New Delhi (SunstarTV Bureau): Some relief have finally been given towards fuel consumers as the oil marketing companies on Wednesday reduced the high price rate of petrol and diesel after keeping it static for the past seven days.
Reportedly, the petrol and diesel prices were dips by 15 paise per litre to Rs 101.34 and Rs 88.77 per litre respectively in Delhi. On Tuesday, the Petrol was priced at Rs 101.49 per liter and diesel at Rs 88.92 per litre in Delhi.
However, this price level was maintained for the last seven days as OMCs decided to wait and watch the developments in the global oil market before revising retail prices.
Across the country as well fuel prices were cut between 15-20 paise per liter but their retail rates varied depending on the level of local taxes in each state.
After falling, global crude oil prices had firmed up over the past week to cross $73 a barrel mark. The expectation is that with cruder coming into the market next month oil prices may soften a bit that could help in keeping product prices also under check.
Before price revision for auto fuel again began this month, its rates had been static for 35 days between July 18 and August 21.
This stuck remaining price came to fore after fuel prices increased for 41 days in the current financial year. The 41 increases have taken up petrol prices by Rs 11.44 per liter in national capital. Similarly, diesel rates have increased by Rs 8.74 per liter, reported in Delhi.
