Fuel retailers spared consumers of further hike in fuel prices by keeping retail prices of petrol and diesel unchanged on Friday, a day after it touched new records.
The price of petrol and diesel were raised on Thursday, the 12th increase so far in the month of June.
With fuel prices remaining unchanged on Friday, petrol continued to cost Rs 97.76 per litre and diesel Rs 88.30 per litre in Delhi.
Across the country as well, the petrol and diesel prices remained static on Friday but its actual retail prices varied depending on the level of local levies in respective states.
In Mumbai, where petrol prices crossed Rs 100 mark for the first time ever on May 29, the fuel price reached new high of Rs 103.89 per litre on Thursday. It remained at the same level on Friday. Diesel is also priced at Rs 95.79 a litre in the city, the highest among metros.
Petrol prices that crossed the Rs 100 per litre mark in Maharashtra, Madhya Pradesh, Rajasthan, Telangana, and Andhra Pradesh earlier is set to touch similar levels all across the country.
With Friday’s price pause, fuel prices have now increased on 29 days and remained unchanged on 27 days since May 1. The 28 increases have taken up petrol prices by Rs 7.37 per litre in Delhi. Similarly, diesel has increased by Rs 7.57 per litre in the national capital.
With global crude prices also rising on a pick up demand and depleting inventories of worlds largest fuel guzzler — the US, retail prices of fuel in India is expected to firm up further in coming days.
The benchmark Brent crude reached multi-year high level of over $75 on ICE or Intercontinental Exchange.