New Delhi: On Wednesday, State-controlled oil marketing companies kept retail fuel prices unchanged across the major cities. In national capital Delhi, a litre of petrol costs Rs 70.44 while diesel is retailing at Rs 65.51 a litre, no change compared to Tuesday’s price.
While It is to be noted that petrol, diesel prices were hacked on Tuesday and petrol became cheaper by 14-16 paise across major cities of the country while diesel became cheaper by 10-11 paise per litre. In Kolkata, petrol and diesel are selling for Rs 72.55 a litre and Rs 67.29 per litre, as per data available with Indian Oil Corp website. Petrol price is retailing at Rs 76.08 per litre and diesel can be availed at Rs 68.59 a litre in Mumbai.
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However, people in Chennai Chennai have to pay Rs 73.11 for a litre of petrol while diesel retailed at Rs 69.20 per litre. In Noida also, petrol price remained unchanged at Rs 70.34 and diesel price at Rs 64.75. In Gurugram, petrol, diesel prices remained stable at Rs 71.35 and Rs 65.35 respectively.
Here to be noted that because of the daily dynamic pricing regime, the retail petrol and diesel prices depend on global crude prices on a 15-day average, and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements.
On Wednesday, in the international oil market, crude prices went higher amid concerns over the outlook for the global economy capped gains. International Brent crude oil futures had yet to trade, after closing down 0.8 per cent in the last session. Crude has gone up about 20 per cent this year as the OPEC, Russia and others slashed volumes by the most in two years.
