Petrol, diesel prices pause for 4th consecutive day

Fuel prices have gone for a longer pause after rising on 22 of the past 27 days as oil marketing companies (OMC) kept the pump prices of petrol and diesel unchanged again on Friday.

In the national capital, petrol price on Friday stood at Rs 80.43 per lit re and diesel at Rs 80.53 a litre, same level as last three days when OMCs went for pause and kept the prices unchanged.

Sources in public sector oil companies said that consumers could get relief from the regular price rise of the two petroleum products in coming days as the pause for four days now could be replicated in several of the coming days if global oil prices remained soft.

Also, the oil companies have covered most of the shortfall arising when for 82 continuous days (from March 14 to June 6) petrol and diesel prices remained unchanged while government substantially raised taxes on the products.

Starting from June 7, petrol price has increased by Rs 9.17 and diesel by Rs 11.14 in the national capital. In the other cities the magnitude of increase was similar.

With global oil prices now again rising climbing over $42 a barrel, ther e could be instance that petrol and distal price may begin their daily rise a gain. But for this to happen, the current level of crude price has to be maintained and rise further.