Fuel prices unchanged as COVID-19 surge keeps crude stable, Energy News, ET EnergyWorld


New Delhi: Fuel prices in the country remained unchanged on Tuesday as oil marketing companies decided to press pause and analyze global developments before making a review.

As a result, the pump price of gasoline and diesel remained at Rs 90.40 per liter and Rs 80.73 per liter respectively in Delhi. This is the 13th day in a row that fuel prices have not been revised.

The price of the two automotive fuels fell 16 paise and 14 paise per liter respectively on April 15 after a 15-day hiatus when the WTO kept prices stable. Subsequently, the revision of fuel prices was halted.

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Nationwide, too, the price of gasoline and diesel remained unchanged on Tuesday, but its retail levels varied depending on the level of local levies in the respective states.

Premium gasoline, however, continues to exceed Rs 100 per liter in Mumbai and several other cities across the country.

The WTO has made price cuts for the first time this year on two consecutive days – on March 24 and 25 after keeping oil prices stable for the past 24 days.

The price was reduced again on March 30. Subsequently, fuel prices were unchanged for the past 15 days before falling again on April 15.

Overall, gasoline prices have fallen by 77 paise per liter while diesel by 74 paise per liter in 2021 so far.

Previously, gasoline and diesel prices increased 26-fold in 2021, with both car fuels increasing by Rs 7.46 and Rs 7.60 per liter respectively so far this year.

With global crude prices at around $ 66 a barrel, the WTO may have to revise fuel prices upwards again if there is further firming. The WTO compares retail fuel prices to a 15-day moving average of world refined product prices and the dollar exchange rate.


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