Consumers may get relief this month from a repeated hike in fuel prices. Oil marketing companies on Friday did not change the retail prices of petrol and diesel to analyze the volatility in global oil prices. OMCs have started cutting the retail prices of petrol and diesel in the next few days to give relief, this may give relief from the rising prices of petrol and diesel in the coming days.
Global crude oil prices eased slightly after crossing $77 a barrel, amid differences in oil cartel OPEC on continuing production cuts.
There was no change in prices on Friday. In the national capital, the price of petrol is fixed at Rs 100.56 per liter and diesel at Rs 89.62 per liter. There was no change in fuel prices across the country on Friday.
In the last two days, there was a change in the prices of fuel and the price of petrol has crossed Rs 100 per liter at many places. On May 1, petrol was Rs 90.40 per liter after which now the price of petrol is Rs 100.56 per liter. There has been an increase of Rs 10.16 per liter in the last 69 days. Similarly, the price of diesel in the capital has also increased by Rs 8.89 per liter to Rs 89.62 per liter in the last two months.
With the increase in prices in the last two months, there has been a continuous increase in fuel rates in 37 of the 70 days between May. By June and July, retail rates reached new highs across the country.