NEW DELHI : Amid a slump in oil demand during lockdown, state-run fuel retailers today left the price of petrol and diesel unchanged for the 29th day in a row.
Crude oil prices are down by more than 54% this year while auto fuel rates have fallen by only about 8-10% from their peaks in this year.
Despite an unprecedented deal by the world's biggest producers to cut output to steady a market pummelled by coronavirus, oil futures are still trading around %32 a barrel.
In India, fuel sales have slumped by around 70% this month as industries, barring those falling under the essential services category, are shut.