Petrol and diesel prices held steady across metro cities on September 11, the latest price notification issued by fuel retailers showed.
Fuel prices have stayed unchanged for more than a month. Petrol and diesel in Delhi cost Rs 96.72 and Rs 89.62 a litre, respectively. In Mumbai, petrol is being sold for Rs 106.31 per litre and diesel for Rs 94.27. Petrol and diesel are priced at Rs 102.63 and Rs 94.24 in Chennai and at Rs 106.03 and Rs 92.76 in Kolkata, respectively.
State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have not raise petrol and diesel prices for almost five months now, despite rising international oil prices.
Meanwhile, oil prices rose about 4% on September 10, supported by real and threatened cuts to supply, although futures posted a second weekly decline as aggressive interest rate hikes and China's COVID-19 curbs weighed on the demand outlook.
Russian President Vladimir Putin has threatened to halt oil and gas exports to Europe if price caps are imposed and a small cut to OPEC+ oil output plans announced this week also supported prices.