Petrol, Diesel prices remain stable, why?

Bangalore, April 30: The State oil companies have not revised prices of petrol and diesel for almost a week in an apparent suspension of their freedom to alter prices daily in line with fluctuations in international fuel and exchange rates.

Prices of petrol and diesel have remained unchanged at Rs 74.63 and Rs 65.93 per liter, respectively, at Indian Oil filling stations in Delhi since Tuesday through Sunday, even though international fuel rates and the currency fluctuated every day.

State companies had previously kept prices unchanged during April 16-19. Shares in Indian Oil, Bharat Petroleum, and Hindustan Petroleum — that control more than 90% of fuel retailing —have lost 9-16% since April 11, when a media report said the government had asked oil retailers to hold rates and absorb part of the hike ahead of Karnataka polls.