New Delhi: Petrol and diesel prices will not be changed this fortnight (Nov 30, 2004).

"Oil companies have decided not to change prices," an Indian Oil Corporation (IOC) official said.

Petrol prices were expected to be slashed by Rs 0.49 per litre in tune with the fall in international prices. But oil companies decided not to lower prices in order to recoup the losses they suffered on selling diesel below the cost.

Today was the scheduled day for revision in petrol and diesel prices as per the mechanism to change petrol and diesel prices fortnightly.