Petrol, diesel prices were unchanged for the ninth consecutive day on Monday.
Accordingly, the price of petrol and diesel was static at Rs 101.84 and Rs 89.87 per litre in the national capital, as per Indian Oil Corporation, the country's largest fuel retailer.
In Mumbai, the petrol price was unchanged at Rs 107.83 per litre on Friday. The cost of diesel was stable at Rs 97.45 a litre.
The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil Corporation Limited (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) on a daily basis and any revision is implemented from 6 am in the morning.
As per the last hike, petrol price had gone up by 26-34 paise and diesel price was up 15-37 paise across major metros.
With the fuel prices having met an all-time high in the country, the price tag is majorly attributed to value-added tax, state-level taxation and fuel excise duty by the Central government. To the baseline retail price, oil marketing companies rack up charges.
On the global front, oil prices were little changed Monday as investors balanced concerns about fuel demand from the spread of COVID-19 variants and floods in China against expectations of tight supplies through the rest of the year.
Brent crude futures for September fell 3 cents to $74.07 a barrel by 7:23 am and the US Texas Intermediate crude was at $71.99 a barrel, down 8 cents.