With global crude firm, petrol and diesel prices may rise

Oil marketing companies did not effect any revision in retail price of petrol and diesel across the the country on Monday giving respite to consumers during festival season as rising global crude prices in last week had started  talk of a possible price rise of auto fuel.

So, petrol prices in the national in capital continues to remain at Rs 81.06 per litre. In Mumbai, Chennai and Kolkata, the fuel was sold for Rs 87.74, Rs 84.14 and Rs 82.59 per litre, respectively.

Diesel prices in Delhi, Mumbai, Chennai and Kolkata were at Rs 70.46, Rs 76.86, Rs 75.95 and Rs 73.99, respectively.

With no revision on Monday, petrol prices have now remained at the same level for 55 days now while diesel prices have been at the same level for 45 days.

The global oil price have started showing signs of forming up ever since news of a successful vaccine against coronavirus came last week. Benchmark crude Brent rose over $45 a barrel last week, settling a tad lower at $43.5 a barrel on Monday.

Though oil companies revise petrol and diesel prices based on global movement of product prices, crude has a bearing on overall price sensitiveness petroleum products across the chain.