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Petrol, diesel prices remain static

Petrol and diesel prices in the country remained static for the 25th consecutive day on Wednesday as oil marketing companies continued to wa...


Petrol and diesel prices in the country remained static for the 25th consecutive day on Wednesday as oil marketing companies continued to wait and watch the situation amidst fluctuating global crude prices.

In the national capital, petrol is still being sold for Rs 101.84 per litre, while diesel is being sold at the unchanged price of Rs 89.87 a litre on Wednesday.

Across the country, fuel prices remained unchanged providing some relief to consumers already feeling the heat of higher inflation that has raised prices of several other commodities, including food items.

Global crude prices have now softened to about $70 a barrel after it swung in all directions in July starting with a low of $70 a barrel to quickly rise to over $77 a barrel, only to fall soon below $70 a barrel and crossing $75 a barrel later in the month.

Lower oil and product prices should have actually resulted in the consumers getting relief by way of a cut in retail price of petrol and diesel. But OMCs have decided it’s best to wait and watch the disruption now as crude prices are still swinging.

The pump price of fuel has been static since July 18.

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