State-run oil marketing companies on Wednesday (November 6) kept the retail prices of petrol and diesel unchanged across major cities of the country. In national capital Delhi, a litre of petrol today costs Rs 72.60 while diesel costs Rs 65.75 per litre, no change compared with Tuesday’s price.
Worth mentioning here is that the pump prices of fuel are the cheapest Delhi among all metros and most state capitals due to lower taxes. On Tuesday, after the daily revision in retail fuel rates, petrol prices fell by 5 paise while diesel prices remained static across four metropolitan cities in the country.
In Kolkata, citizens have to shell out Rs 75.32 for a litre of petrol while diesel costs Rs 68.16 per litre, as per data available with Indian Oil Corp website. Similarly, in Mumbai, petrol and diesel are selling for Rs 78.28 a litre and Rs 68.96 per litre respectively, no change in prices against Tuesday’s rates.
People in Chennai have to pay Rs 75.45 for a litre of petrol while diesel retailed at Rs 69.50 per litre. In Gurugram, petrol price remained stable at Rs 72.61 a litre and diesel costs Rs 65.10 per litre. In Noida, too, petrol, diesel prices remained static at Rs 74.41 a litre and Rs 66.06 a litre respectively.
As per the country’s daily pricing mechanism, the retail prices of petrol and diesel in India are dependent on the global crude prices and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements. On Tuesday, the rupee climbed 8 paise to close at 70.69 against the US dollar amid foreign fund inflows and gains in Asian peers after Chinese central bank slashed key interest rates.
In the international oil market, crude prices dropped on Wednesday after gaining for three straight sessions on the hope of an easing of in Washington-Beijing trade war. International Brent crude oil futures were trading at USD 62.60 per barrel, down 36 cents or, 0.6 per cent, from their last close.