Day after Budget, prices of petrol, diesel remain unchanged

NEW DELHI: The budget levy of new agriculture infrastructure and development cess on petrol and diesel did not have an impact on retail prices of both the products on Tuesday as oil marketing companies (OMCs) took cognizance of the fact that additional duty has been offset by an equal cut in excise duty rates.

The OMCs also ignored the signals given by the international market where oil prices rose sharply by over 1 per cent nearing $57 a barrel. This would have normally pushed OMCs into raising petrol and diesel prices to reduce their under recovery.