Oil marketing companies (OMCs) on Friday raised the retail price of petrol and diesel after a break of almost two months when auto fuel prices remained static on Covid affected global oil market.
The price of petrol has increased by 17 paisa per litre in the national Capital to Rs 81.23 from Rs 81.06 a litre on the previous day. Similarly, retail price of diesel has been increased by 22 paisa per litre to Rs 70.68 a litre.
While India has brought both petrol and diesel out from an earlier administrative price regime and their retail prices are revised daily based on global movement product prices, holding the retail price revision for almost two months was surprising. At a time when globally prices change by the hour, in India it could be kept static for such a long period.
