New Delhi: On Tuesday (March 26), Citizens have reasons to cheer after the state-owned oil marketing companies kept the retail prices of petrol and diesel stagnant across major cities of the country. Petrol is being retailed at Rs 72.86 per litre in Delhi while diesel costs Rs 66.49 a litre, no change compared with yesterday’s price. It may be noted that petrol prices remain unchanged on Monday while diesel prices were slashed by 11-12 paise across major cities of the country. In Kolkata, petrol and diesel are selling for Rs 74.93 a litre and Rs 68.28 per litre, as per data available with Indian Oil Corp website. Similarly, petrol is retailing at Rs 78.48 per litre and diesel can be availed at Rs 69.64 a litre in Mumbai, no change in price as against Monday’s rates.
However, People in Chennai have to shell out Rs 75.67 for a litre of petrol while diesel retailed at Rs 70.26 per litre. Worth mentioning here is that that the petrol and diesel prices in the country are dependent on the global crude prices and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements. In October 2018, petrol prices had climbed to a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai. Diesel peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai.
On Tuesday, in the international oil market, crude prices firmed, supported by ongoing supply cuts by OPEC and by US curbs on Iran and Venezuela. International Brent crude oil futures were trading at USD 67.46 per barrel, up 25 cents, or 0.4 per cent, from their last close.