Accordingly, pump price of petrol and diesel remained at Rs 90.40 a litre and Rs 80.73 a litre respectively in Delhi.

 

The price of the two auto fuels had fallen by 16 paise and 14 paise per litre respectively last week on Thursday after a 15-day break when OMCs kept its prices static.

 

Across the country as well the petrol and diesel price remained unchanged on Wednesday but its retail levels varied depending on the level of local levies on respective states.

 

Premium petrol, however, continues to remain over Rs 100 a litre in Mumbai and several other cities across the country.

 

The OMCs went on price cut for the first time this year on two consecutive days -- March 24 and 25 after keeping oil prices steady for the past 24 days. It again reduced the price on March 30. Thereafter, fuel prices have remained unchanged for the past 15 days before falling again on April 15.

 

Earlier, petrol and diesel prices increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre respectively so far this year.

 

With global crude price around $ 66 a barrel mark, OMCs may have to revise fuel prices upwards again if there is any further firming up. OMCs benchmark retail fuel prices to a 15-day rolling average of global refined products' prices and dollar exchange rate.