Pune: In a momentary relief, Oil Marketing Companies (OMCs) on Wednesday did not increased fares of petrol and diesel as fuel rates remain unchanged. Fuel prices remained unmoved after oil companies increased its pump prices on 13 of the last 16 days.
In Mumbai, petrol stands at Rs 97.34 a litre while diesel price in the city is closing on Rs 90 a litre (Rs 88.44 per litre). In Pune, with no changes on Wednesday, petrol costs Rs 96.96 per litre while diesel is at Rs 86.72 per litre.
The price halt on Wednesday may be momentary as worldwide oil prices are on the rise with benchmark Brent crude prices hovering above $65 a barrel. The product prices in the international market have also flattened over restricted supplies and a demand pick up. The surge in fuel prices in the past weeks has taken petrol to cross historic high of Rs 100 a litre in multiple cities around India.
The petrol and diesel prices have increased 25 times this year with the two fuels increasing by Rs 7.22 and Rs 7.45 per litre respectively. Oil companies’ executives stated that petrol and diesel prices may rise further in coming days as retail prices may have to be balanced in line with worldwide developments to prevent OMCs from making losses on sale of auto fuels.
In the 13 time increases from February 9, price has shoot up by Rs 3.98 per litre for petrol while diesel rate has risen by Rs 4.19 a litre in nation’s capital.