Fuel prices held constant on Friday after a hike on Thursday, which took petrol prices closer to Rs 110 per litre mark in many cities. Therefore, petrol stays at Rs 101.54 a litre and diesel at Rs 89.87 a litre. On Thursday, the price of petrol and diesel increased by 35 paise and 15 paise per litre respectively taking the fuel prices to new highs. The retail price of petrol in Mumbai stands at Rs 107.54 per litre, which is a 34 paise increased from the last price point, whereas diesel prices were increased by 15 paise, at Rs 97.45 per litre.
Over the country and the fuel prices remained stable on Friday, but the rates varied depending on the level of local taxes in states. Starting from a price line of Rs 90.40 a litre on May 1, petrol is now priced at Rs 101.54 a litre in Delhi, rising by Rs 11.14 per litre. Diesel prices also rose by Rs 9.14 per litre.
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Citizens can now only expect that any further rise in fuel price is checked as OMCs start cutting the retail price of petrol and diesel in the next few days to give relief. This may be achievable with global crude prices dropping to just $73 per barrel.