Petrol, diesel prices revision maintain pause as OMCs weigh options
Fuel prices in the country remained unchanged on Monday as oil marketing companies decided to wait and watch the situation prevailing in the global oil markets for some more time before restarting daily revision of petrol and diesel prices.
Sources indicated that price revisions may begin anytime now as oil companies have already increased ATF prices by 6.7 per cent beginning this month. However, whether prices of petrol and diesel would move up or down then would depend on actuals average global price in the last fortnight of March.
OMCs benchmark retail fuel prices to a 15-day rolling average of global refined products’ prices and dollar exchange rate.
