Business : Oilcos wait as petrol, diesel prices remain unchanged

New Delhi, Nov 5 : Petrol and diesel prices remained unchanged on Thursday maintaining the same levels as it has been early last month.

With this, petrol prices have now been unchanged for over a month (43 days), while diesel prices were at the same level as on October 2.

Price of petrol in the national capital was at Rs 81.06 per litre. In Mumbai, Chennai and Kolkata, the fuel was sold for Rs 87.74, Rs 84.14 and Rs 82.59 per litre, respectively.

Diesel prices in Delhi, Mumbai, Chennai and Kolkata were at Rs 70.46, Rs 76.86, Rs 75.95 and Rs 73.99, respectively.

Global crude prices have remained around $40 a barrel, the same levels as last month preventing any revision.

The forecast for oil is that crude may be range bound the same levels for some time now. If that is the case, not much is expected to change in retail prices of petrol and diesel here. However, Oilcos may look at marginal cuts next week to give effect to about $1-2 reduction in crude price over the fortnight.


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