New Delhi: on Friday (April 12) , following the daily revision in retail fuel prices, petrol prices went up after a gap of two days across four metro cities in the country while diesel became dearer, too. Petrol prices in all the metro cities increased by 6 paise a litre while diesel became costlier by 8-9 paise. The retail prices of petrol in Delhi were hiked by 6 paise to Rs 72.86 a litre as against Rs 72.80 on Thursday. Diesel prices in the national capital raised by 8 paise to Rs 66.19 as compared with Rs 66.11 a litre on Thursday.
Here it is worth mentioning here is that state-run oil marketing companies kept the retail petrol and diesel prices unchanged for a second day on Thursday. Citizens in Mumbai have to pay Rs 78.43 for a litre of petrol after a 6 paise increase hike over Thursday’s price. A litre of diesel costs Rs 69.27, an 8 paise more than yesterday’s rate of Rs 69.19. Retail petrol price in Kolkata was raised by 6 paise to Rs 74.88, from Rs 74.82 recorded on Thursday. Diesel prices were hiked by 8 paise from yesterday’s rate price of Rs 67.85 a litre. In Chennai, petrol is retailing at Rs 75.62, 6 paise increase than Thursday’s rate of Rs 75.56 while diesel price peaked to Rs 69.89, 9 paise more than yesterday's price of Rs 69.80 a litre, according to data from Indian Oil Corporation website.
In Noida, petrol is retailing at Rs 72.20 a litre, compared with Rs 72.15 on Thursday and diesel is sold at Rs 65.30 as against Rs 65.23 yesterday. Similarly, in Gurugram, petrol price went up 5 paise to Rs 72.74 as compared with Rs 72.69 on Thursday and diesel price increased to Rs 65.40 per litre, 7 paise more than Thursday’s rate of Rs 65.33 a litre. It is worth noting that because of the daily dynamic pricing regime, the retail fuel prices depend on global crude prices on a 15-day average, and the rupee-US dollar exchange rate as the country relies more than 80 per cent on imports to meet its oil needs.
However, it is in the international oil market, crude prices were firm on Friday, backed by supply cuts by OPEC and by US curbs against Iran and Venezuela. International Brent crude oil futures were trading at USD 71.01 per barrel, up 18 cents or, 0.3 per cent, from their last close. Global benchmark Brent went up about 30 per cent this year.