Petrol, diesel prices remain unchanged as oil companies decide to hold

Diesel continues to be priced at Rs 81.64 per litre in Delhi.
A day after diesel prices increased to extend its gain over petrol in Delhi, oil marketing companies decided to keep the pump prices of the two petroleum products unchanged on Tuesday.

Accordingly, diesel continues to be priced at Rs 81.64 per litre in the capital, while petrol has maintained steady levels at Rs 80.43 a litre.

Oil companies had raised diesel prices marginally by 12 paise on Monday while keeping petrol prices unchanged. Petrol prices had maintained the same level of Rs 80.43 a litre since June 29 when its pump price rose marginally by 5 paise over previous days price.

Unexpected rise in diesel prices despite slower demand has put the transport sector at a big disadvantage as rising fuel cost has further shrunk its margins.

With the hikes in diesel prices, the gap between the two auto fuels has further widened in the national capital. Last month, diesel prices overtook that of petrol in Delhi, in an unprecedented development.

Along with the Capital, petrol and diesel prices also remained unchanged in other metro cities as well.

Oil companies began daily revision of the two auto fuels from June 7 after keeping the price unchanged for last 82 days during Covid-19 related lockdown. Since then petrol and diesel prices have increased by Rs 9.5 and Rs 11.5 per litre respectively.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel