Petrol and diesel prices In India remained stagnant on Saturday, continuing the price ten-month price stability, Goodreturns website showed. Prices across major cities including New Delhi, Kolkata, Mumbai, Chennai did not record any shift from yesterday’s prices, giving slight relief to the consumers.
These retail prices are updated daily at 6am by Oil Marketing Companies (OMCs) in tune with global crude prices after the government freed petrol and diesel rates in 2010 and 2014 respectively.
The fuel prices are not controlled by the government. The OMCs need to adjust their prices. The Centre regulates fuel prices through excise duty, base prices and cap prices.
