Oil price fall provides no relief to fuel consumers, OMCs deny upto Rs 2 per litre price cut for petrol and diesel

by Subhash Narayan

New Delhi, Aug 9 Fuel consumers could have got between Rs 1-2 per litre relief while filling up their vehicle's tank with petrol and diesel but for the reluctance of oil marketing companies to trust the current softening of global oil prices.

Even though, global crude oil prices have fallen in the last couple of weeks to reach below $ 70 a barrel from a high of $ 77 reached early last month, OMCs have not revised petrol and diesel rates downwards but have kept its prices static for the past 23 days. Even on Monday petrol and diesel prices remained at the same level

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