Petrol, diesel prices unchanged across metro cities

Domestic fuel prices stayed unchanged across the metro cities on Sunday, with petrol selling at Rs 73 per litre in the national capital for the second straight day.

Despite the recent surge in global crude oil prices, the hike in petrol prices has been subdued of late. Image source: Reuters

Domestic fuel prices stayed unchanged across the metro cities on Sunday, with petrol selling at Rs 73 per litre in the national capital for the second straight day. According to data on the Indian Oil Corporation (IOC) website, at Rs 75.02, Rs 78.57 and Rs 75.77 per litre respectively, petrol prices were the same for the second day in Kolkata, Mumbai and Chennai as well.

Despite the recent surge in global crude oil prices, the hike in petrol prices has been subdued of late. Experts say that state-run oil companies have put dynamic pricing on hold during the elections fearing a backlash.

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Fuel prices in the country are based on a 15-day average of global crude prices and the rupee-US dollar exchange rate. Currently, the benchmark Brent crude oil is priced around $72 per barrel.

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In tandem with petrol prices, the cost of diesel too remained unchanged in the major cities. It sold for Rs 66.39, Rs 68.13, Rs 69.49 and Rs 70.10 per litre respectively for the second day in Delhi, Kolkata, Mumbai and Chennai.

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