Petrol and diesel prices are static for 13-straight days in a row on Monday( April 12, 2021). The last time the fuel prices were changed was on March 30,201. And now the rates of petrol and diesel have been at Rs. 90.56 and Rs. 80.87 per litre.
Expert Anuj Gupta, VP, commodity and currency research at IIFL Securities said, the rising coronavirus cases has put the oil prices in check. Nonetheless, weakness in the dollar could impact the oil trajectory negatively. On Wednesday, rupee slumped to a 6-month low and this could impact the county's import bill even if the brent crude as well as WTI crude prices remained stable in the international markets.
Now we have seen prices of fuel remaining static as the global demand is still 40 percent lower in comparison to the pre-Covid levels.