POL prices to remain unchanged for October
- Author: Darren Santiago Oct 02, 2019,
Oct 02, 2019, 0:33
The department said worldwide product prices for petrol, diesel and illuminating paraffin increased during the period under review.
Earlier this month, crude prices had risen in the global market after drone attacks on Saudi Aramco's oil facilities wiped off 5.7 million barrels of production, which was 5% of the global crude supply.
After three days of stagnancy, petrol and diesel prices are up again - petrol by 7-8 paise per litre and diesel by 9-10 paise a litre.
Below are the fuel prices for September 2019 and October so you can compare.
The OGRA had recommended a reduction in the fuel prices, with a proposal of a Rs2.55-a-litre cut in petrol.
Meanwhile, diesel rates soared to 67.49, Rs 69.85, Rs 70.76 and Rs 71.30 in Delhi, Kolkata, Mumbai, and Chennai respectively.
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But after the government decision of not changing the prices, the price of petrol will remain at Rs113.24 per litre, diesel price Rs127.14 per litre and LDO which is mainly used for industrial purposes, its price will be at Rs91.89/liter.
In the immediate aftermath of the attacks Brent Crude Oil prices spiked to nearly $70 per barrel before dropping to a current level of $63-$65.
According to data available, auto fuel prices at the retail end continued their uptrend on Monday.
The oil market suffered a bad blow in September, when a drone strike wiped out a massive production unit in Saudi Arabia.
Oil prices have shot-up, and the rand is performing badly against the U.S. dollar once more.