Home / News / India /  Petrol prices remain unchanged for over two months
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NEW DELHI : Oil marketing companies (OMCs) have kept the price of petrol and diesel in the national capital unchanged for over two months.

Petrol is sold for 96.72 per litre in Delhi, and diesel is priced at 89.62 a litre, according to data on the Indian Oil Corporation’s site. The prices have remained same for 63 days in a row.

Similarly, in Chennai and Kolkata, prices have been steady for the past two months. Petrol costs 102.63 and 106.03 per litre in Chennai and Kolkata, while diesel is sold for 94.24 and 92.76 per litre, respectively.

However, prices declined in Mumbai on 15 July, after the Maharashtra government lower the valued added tax on petrol and diesel by 5 and 3 a liltre, respectively. Since then, prices of petrol in Mumbai has been 106.31 per litre and the rate of diesel has been at 94.27 a litre.

OMCs have largely kept the prices unchanged even amid a volatile global trade of crude oil. Crude oil prices have been trading on a volatile note of late amid recessionary concerns, covid cases in China along with the persistent supply fears emanating out of the Russia-Ukraine conflict.

On Friday, the September contract of Brent on the Intercontinental Exchange closed at $103.20 per barrel, lower by 0.64% from its previous close. The September contract of West Texas Intermediate (WTI) fell 1.71% to $94.70 a barrel.

Prices declined on Friday, after the European Union said that it would allow Russian state-owned companies to ship oil to third countries under an adjustment of sanctions agreed by its member states. Russian energy majors Rosneft and Gazprom will be able to ship oil to other countries which would lower the global energy concerns.

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