New Delhi: Fuel prices in the country have now remained stable for three weeks now as the softening of crude oil and the forthcoming meeting in some countries have prevented oil companies from reviewing retail prices.
As a result, petrol is priced in the capital on Saturday at R 91.17 per liter and diesel at R 81.47 per liter. Fuel prices were not reviewed for 21 days.
Across the country, petrol and diesel prices remain unchanged. But the interruption did not contribute to lowering petrol prices, which exceeded R 100 per liter in different parts of the country.
Finance Minister Anurag Thakur said in parliament on Tuesday that states and Centers should investigate taxes on petroleum products to verify that relief can be granted to consumers.
Since the beginning of February, crude oil has raised more than $ 7 a barrel, pushing the OMCs to increase fuel prices 14 times, raising prices by R 4.22 per liter for petrol and by 4.34 per liter for diesel in Delhi. increased.
Crude oil has now declined 6 percent over the past six days and is now sitting a sheet lower at about $ 64.5 a barrel due to rising U.S. stocks.
Petrol and diesel prices have risen 26 times in 2021 with the two motor fuels rising by 7.46 and 7.60 per liter respectively this year.
Officials in public-sector oil companies said retail prices could rise again once the daily review begins to vote in various state elections. Crude oil is expected to rise further as demand increases and OPEC + continues to cut production in April.
OMCs are already losing R 2 and R 4 per liter respectively at current retail prices of petrol and diesel. Sources said that to cover this, fuel prices could remain unchanged, even if it is necessary to lower retail prices as global product prices soften.
Source: Telangana Today