Fuel prices remain steady for 17th day straight

Petrol price in Delhi stands at Rs 91.17 per litre while diesel is available for Rs 81.47. In Mumbai, petrol is retailing at Rs 97.57, while diesel costs Rs 88.60, data available on Indian Oil Corporation’s website showed.

There has not been any revision in auto fuel prices so far in March and prices were last changed on February 27, 2021, with petrol being hiked by 24 paise per litre and diesel being raised by 15 paise in the national capital.

The price of petrol had last month breached the Rs 100-mark in two places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel in the country. In these two cities, the key auto fuel remained steady at Rs 101.84 in Rajasthan’s Sri Ganganagar, while diesel was available at Rs 93.77 per litre. In Madhya Pradesh’s Anuppur, petrol costs Rs 101.59 per litre and diesel is selling for Rs 91.97.

Generally, the fuel prices get revised on a daily basis in line with benchmark international price and foreign exchange rates.

In the global market, crude oil prices rose on Thursday as vaccine rollouts bolstered the economic outlook and US fuel stocks fell sharply, although gains were capped by a surge in crude oil inventories after last month’s Texas storm, Reuters reported earlier in the day.

Brent crude oil futures for May rose 40 cents (0.6 per cent) to $68.30 a barrel by 0105 GMT, while US West Texas Intermediate crude for April was up 48 cents (0.7 per cent) at $64.92, the report said.