NEW DELHI : Barring the effect of the VAT hike in most states, the base price of petrol and diesel has not changed in India since March 16, well before the coronavirus lockdown began.
With a slump in crude oil rates as well as domestic demand for fuel, oil marketing companies have chosen to temporarily stop revising fuel rates daily at 6 am, as was being done earlier.
However, as lockdown restrictions ease and demand for petrol and diesel picks up for both transport and industry, state-run oil marketing companies (OMCs) might restart daily price revision of the retail price of petrol and diesel later this month.