new delhi oil marketing companies seem to have lost the opportunity to provide another bonanza to consumers this festive season by bringing down the pump price of auto fuels petrol and dieselwith global oil price witnessing a sharp increase for the last few days in the wake of the rising demand and falling inventories omcs may actually increase the price of the two auto fuels in coming days rather effecting a cut that had become possible till late last weekthe omcs did not revise petrol and diesel prices on friday maintaining the over a month long trend when pump prices of the two auto fuels have remained unchanged advt with this petrol price has now remained at the same level for 52 days now while diesel price has been at the same level for 42 daysthe price of petrol in the national capital continues to remain at rs 8106 per litre in mumbai chennai and kolkata the fuel was sold for rs 8774 rs 8414 and rs 8259 per litre respectivelydiesel price in delhi mumbai chennai and kolkata was at rs 7046 rs 7686 rs 7595 and rs 7399 respectivelyduring this period last 52 days brent crude prices had fallen by 23 per barrel or had remained closer to 40 a barrel that would normally have resulted in price cuts for petrol and dieselcrude price has again gained momentum this week closing over 44 a barrel on thursday and still at a high level of 43 a barrel if this trend is maintained the retail price of petroleum products may actually face an increaseglobally petroleum product prices get revised by the hour we have started the daily price revision mechanism it is surprising in an open and free pricing mechanism companies can hold back any revision for such a long duration unless the administrative price mechanism is at play again said an executive of psu oil company asking not to be namedthe indian oil companies have been following daily price revision mechanism under which the price of petrol and diesel is revised based on the 15day average of the product prices every morning but no revision of prices for such a long period has given rise to the speculation whether prices of petrol and diesel are still being administered and kept at artificial levels ians published on nov 14 2020 at 0838 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app petrol prices oil marketing companies auto fuels brent crude