New Delhi: On Wednesday, after six consecutive days of rate revision, state-run oil marketing companies chose not to raise retail petrol prices while diesel prices also remained unchanged across the major cities. In national capital Delhi, petrol is being sold for Rs 71 per litre while diesel costs Rs 66.17 a litre, no change compared to Tuesday’s price. It is to be noted that here is that fuel prices were hiked on Tuesday and petrol became dearer by 9-11 paise across major cities of the country while diesel became costlier by 6-7 paise per litre.

In part of metropolitan cities, in Mumbai, people have to shell out Rs 76.64 for a litre of petrol while diesel costs Rs 69.30 per litre, as per data available with Indian Oil Corp website. Similarly, in Kolkata, petrol is retailing at Rs 73.11 per litre and diesel can be availed at Rs 67.95 a litre. In Chennai, a litre of petrol is priced at Rs 73.72 a litre while diesel sells for Rs 69.91per litre, no rate revision as against Tuesday’s price. In Noida also, petrol price remained unchanged at Rs 70.78 and diesel price at Rs 65.32. In Gurugram, petrol, diesel prices remained stable at Rs 71.65 and Rs 65.77 respectively. 

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As per the 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 were near 2019 highs, backed by OPEC-led supply cuts and US curbs on Iran and Venezuela. International Brent crude oil futures had yet to trade after it hit a 2019 high of USD 66.83 per barrel this week.

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