Petrol, diesel price rise checked for 3rd consecutive day

New Delhi, Feb 8 : Petrol and diesel price rise continued on the pause mode on Monday, the third consecutive day of no price change, as oil marketing companies decided to watch the revolving oil market before taking a call on further changes.
Before the pause, petrol and diesel prices had risen sharply on Thursday and Friday, taking up the pump price of the auto fuels by 65 paise per litre.
The pause came on a day when global crude prices rose by over 1.3 per cent to reach this year’s high level of over $60 a barrel.
Petrol, diesel and other oil product prices in India are determined on the basis of petroleum product price in the global markets and not crude price. But movement in benchmark crude has a bearing on pricing across the product categories.
With price on the pause on Monday, retail price of diesel remained at Rs 77.13 a litre in Delhi while petrol prices remained at new high level of Rs 86.95 a litre in the capital.
Across the country as well the fuel prices remained at Friday’s level.