Fuel prices in the country remained unchanged on Saturday as oil marketing companies decided to wait and watch the situation prevailing in global oil markets before before restarting daily revision of petrol and diesel prices.
Sources indicated that price revisions may begin anytime next week after results to state elections are declared. However, whether price of petrol and diesel would move up or down then would depend on actual average global price in the last fortnight of March.
OMCs benchmark retail fuel prices to a 15-day rolling average of global refined products’ prices and dollar exchange rate.With no price change on Saturday, pump price of petrol and diesel remained at Rs 90.40 a litre and Rs 80.73 a litre respective in Delhi. This is 16 consecutive day when fuel prices have not been revised. The price of the two auto fuels had fallen by 16 paisa and 14 paisa per litre respectively on April 15 after a 15 day break when OMCs kept its prices static.