New Delhi: On Thursday (April 4), State-controlled oil marketing companies left prices of petrol unchanged for the third consecutive day, while diesel prices were increased by 5 paise across four metropolitan cities in the country. In Delhi, petrol price is stagnant at Rs 72.86 and diesel is priced at Rs 66.14 a litre as compared with Rs 66.09 a litre on Wednesday, as per data from Indian Oil Corporation website. It may be noted that the retail fuel prices in Delhi are the cheapest among all metros and most state capitals due to lower taxes.
In metro cities prices are as, in Kolkata, petrol is retailing at Rs 74.88 while diesel costs Rs 67.88 a litre, a 5 paise increase from yesterday’s price. Citizens in Mumbai have to shell out Rs 78.43 for a litre of petrol while diesel is sold at Rs 69.22 per litre. Petrol price in Chennai remained unchanged at Rs 75.62 per litre, while diesel prices went up to Rs 69.83, a 5 paisa rise against Wednesday’s rate. Worth mentioning here is that this year, petrol prices went up about Rs 4 per litre in major cities of the country while diesel prices have been hiked by 5 a litre.
As per the daily dynamic pricing regime, the retail petrol and diesel 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. On Thursday, in the international oil market, crude prices were mixed, with Brent prices moving towards USD 70 per barrel mark a surprise build in US inventories. International Brent crude oil futures were trading at USD 69.36 per barrel, up 5 cents from their last close. International benchmark Brent went up approximately 30 per cent this year.