The end-consumer prices of petrol and diesel have not beenrevised for a month now. The oil marketing companies (OMC) decided againstchanging its pump price on Thursday as international product market remainedsubdued while crude prices remained static.
Along with petrol, oil companies also kept the diesel pricesunchanged even though the product has got back on demand cycle this month.
With this, Petrol prices have now been unchanged for 30 daysat a stretch while diesel prices were the same for the 20 consecutive days.
Price of petrol in the national capital stood at Rs 81.06per litre. In Mumbai, Chennai and Kolkata, the fuel was sold for Rs 87.74, Rs84.14 and Rs 82.59 per litre, respectively.
Diesel prices in Delhi, Mumbai, Chennai and Kolkatacontinues to be at at Rs 70.46, Rs 76.86, Rs 75.95 and Rs 73.99, respectively.
Oil sector experts said that with global oil prices underpressure from slowing demand in the second wave of Covid-19 pandemic sweepingseveral western countries, crude price could fall in coming days. If this holdson for a week or so, there could be positive gains for auto fuel consumers.
Global crude prices are holding close to $42 a barrel now.It has been hovering between $40-42 a barrel for over a month now.
The demand has been low, possibly due to the pandemicCOVID-19, but the supply is accumulating. It is estimated that the price ofcrude oil may fall again.