Petrol, diesel prices remain unchanged on Saturday

After three consecutive days of price cuts, petrol and diesel prices in the country remained unchanged on Saturday as oil marketing companies (OMC) decided to go on a pause mode to see global developments in the oil markets before any further revision.

Accordingly, in the national capital, diesel continues to be sold for Rs 89.27 per litre.

Diesel was priced at Rs 89.87 a litre on Tuesday but came down to current level in three successive price cuts of 20 paisa each between Wednesday and Friday.

Unlike diesel, petrol prices have not be changed by OMCs for past 35 days and the fuel continues to be priced at Rs 101.84 a litre in Delhi, the same price level that was reached on July 17.

Across the country as well, fuel prices remained unchanged on Saturday.

Global crude oil prices continue to decline. The October contract of Brent crude oil on the Intercontinental Exchange (ICE) was trading at $66.72 per barrel.

The pump prices of auto fuels were static since July 18.

The long price pause for auto fuels came after fuel prices increased for 41 days in the current financial year. The 41 increases have taken up petrol prices by Rs 11.44 per litre in Delhi. Similarly, diesel rates have increased by Rs 8.74 per litre in the national capital.

Prices of both auto fuels reduced only once in April by 16 and 14 paise per litre respectively. Diesel prices were also reduced by 16 paise per litre in Delhi on July 12 and again now on August 18, 19 and 20.