Fuel retailers spared consumers of any further increase in prices by keeping retail prices of petrol and diesel unchanged on Saturday.
Accordingly, petrol continues to cost Rs 96.93 per litre and diesel Rs 87.69 per litre in Delhi.
Across the country as well the petrol and diesel prices remained static on Saturday but its actual retail prices varied depending on the level of local levies in respective states.
In the city of Mumbai, where petrol prices crossed Rs 100 mark for the first time ever on May 29, the fuel price reached new high of Rs 103.08 per litre on Friday. It remained at the same level on Saturday. Diesel is also priced at Rs 95.14 a litre in the city, the highest among metros.
Petrol price has reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per litre mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana and Andhra Pradesh.
Before Saturday’s price hold, fuel prices increased on Monday, Wednesday and Friday this week. Petrol and diesel prices also increased on four days last week.
With price pause, fuel prices have now increased on 26 days and remained unchanged on 24 days since May 1. The 26 increases have raised petrol prices by Rs 6.54 per litre in Delhi. Similarly, diesel has increased by Rs 6.96 per litre in the national capital.
With global crude prices also rising on a pick up demand and depleting inventories of world’s largest fuel guzzler – the US, retail price of fuel in India is expected to firm up further in coming days. The benchmark Brent crude which reached multi year high level of over $75 on ICE or Intercontinental Exchange a couple of days back had softened to remain over $73 a barrel currently.