Fuel prices unchanged on Sunday after three days of rise

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New Delhi, July 15 (IANS) Following three days of hikes in transport fuel prices, state-run oil marketing companies (OMCs) kept petrol and diesel prices unchanged on Sunday under the dynamic pricing regime in operation since June last year.

As per Indian Oil Corporation, in the four metros of Delhi, Kolkata, Mumbai and Chennai, petrol per litre on Sunday sold at Rs 76.95, Rs 79.61, Rs 84.33 and Rs 79.87 per litre, respectively.

On an upward trajectory since July 5, petrol prices in Mumbai had crossed the Rs 84 per litre mark on Friday, being sold at Rs 84.14 a litre.

In Mumbai, along with the other metros, prices rose to unprecedented levels in May, with the all time high being Rs 86.24, recorded on May 29. It had first touched the Rs 84 a litre level on May 20.

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After a hiatus of around 36 days, fuel prices started to rise on July 5.

In tandem with petrol, the price of diesel also steadied on Sunday across the four metros. It is being sold at Rs 68.61, Rs 71.16, Rs 72.80 and Rs 72.43 per litre in Delhi, Kolkata, Mumbai and Chennai respectively.

Global crude prices softened during the past week as oil exporter Libya restarted port operations and the US gave indications that it could consider granting waivers to some purchasers of Iranian oil on the sanctions reimposed after America’s withdrawal from the Iran nuclear deal.

Oil had gone up to $75 a barrel earlier this month.

–IANS

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