On September 11, 2021, auto fuel prices in the country have maintained stability amid the decline in global oil prices. The state-run oil marketing companies (OMCs) have kept the prices of petrol and diesel unchanged for the sixth consecutive day in a row on Saturday. Despite the recent reductions by OMCs, fuel rates in the country continue to remain at an all-time high in all the metro cities.
According to Indian Oil Corporation, the country’s largest fuel retailer, the rate of petrol in Delhi stands at Rs 101.19 per litre while that of diesel is Rs 88.62 per litre. In India’s financial capital, Mumbai, petrol is retailing at Rs 107.26 per litre and diesel rates are steady at Rs 96.19 per litre. The fuel rates in Mumbai are the highest among all the four metro cities.
Meanwhile, in Chennai, petrol can be bought at Rs 98.96 per litre and diesel is retailing at Rs 93.26 per litre. In Kolkata, the rates of petrol and diesel stand at Rs 101.62 per litre and Rs 91.71 per litre, respectively.
Fuel rates slashed twice this month:
The prices of petrol and diesel were lowered twice in September but the rates continue to remain high. On September 1, 2021, the rates of petrol and diesel were slashed by 15 paise per litre each, following which the prices remained steady for three days in a row. The auto fuel rates were cut by 15 paise per litre each on September 5, 2021. The prices of petrol and diesel were cut by 30 paise per litre each in a week in September.
Sharp jump in fuel demand in August:
The demand for fuel witnessed a sharp jump in August due to the improvement in economic activities in the country. Economic activities have seen a boost as the Covid-19 situation continues to improve in the country.
In August, fuel demand in the country rose 10.9 per cent as compared to the corresponding month last year and even the sales of petrol were 13 per cent higher from a year earlier at 2.69 million tonnes this month. More people purchased personal vehicles to avoid public transport during the Covid-19 pandemic, which has increased the demand for petrol.