The oil marketing companies (OMCs) kept fuel prices unchanged for the 13th consecutive day on Wednesday. Accordingly, the price of petrol and diesel stood at Rs 90.40 and Rs 80.73 per litre respectively, according to Indian Oil Corporation, the country's largest fuel retailer.

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In Mumbai, the petrol price remained unchanged at Rs 96.83 per litre on Friday. The cost of diesel also was the same at Rs 87.81 a litre.

The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis and any revision is implemented from 6 am in the morning. The fuel prices vary from state to state in the country due to the value-added tax or VAT.

On the global front, oil prices dropped on Wednesday, paring overnight gains, with soaring COVID-19 cases in India and a bigger-than-expected build in US crude stocks offsetting confidence shown by OPEC and its allies in a solid recovery in global fuel demand, according to news agency Reuters.

Brent crude LCOc1 futures fell 26 cents, or 0.4 percent, to $66.16 a barrel at 0205 GMT, paring a 1.2 percent gain from Tuesday, the report said.

First Published:Apr 28, 2021 7:51 AM IST