Petrol, diesel prices remain static for 28th straight day

New Delhi: Petrol, diesel rates nearing a month without any revision, as the prices remain unchanged for the 28th consecutive day on Saturday.

Accordingly, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre on Saturday in the national capital.

The pump price of fuel has been static since July 18.

Across the country as well, the fuel prices remained unchanged providing some relief to the consumers already feeling the heat of higher inflation that has raised prices of several other commodities including food items.

Global crude prices have now softened to just below $71 a barrel after it swung in all directions in July starting with a low of $70 a barrel to quickly rise to over $ 77 a barrel, only to fall soon below $70 a barrel and crossing $75 a barrel later in the month.

Lower oil and product prices should have actually resulted in consumers getting relief by way of a cut in the retail price of petrol and diesel. Rather, the OMCs have decided it's best to wait and watch amidst fluctuating global crude prices.

In the city of Mumbai, where petrol prices crossed the Rs 100 mark for the first time ever on May 29, the fuel price is at Rs 107.83 per litre. Diesel prices in the city are also at Rs 97.45, the highest among metros.

Petrol prices in all metros have now crossed the Rs 100 per litre mark.

In Chennai, petrol is priced at Rs 102.49 a litre while in Kolkata, it is Rs 101.08 a litre. Diesel is also priced at Rs 94.39 and Rs 93.02 per litre in both cities, respectively.

The long pause has come after fuel prices increased on 41 days in the current financial year.