OIL & GAS

Petrol, diesel prices unchanged on Tuesday after falling for 5th day

Petrol, diesel prices remain unchanged on Tuesday after falling for fifth successive day on Monday. In Delhi, unbranded petrol is sold at Rs 73.04 a litre while diesel is retailing at Rs 66.09 a litre, no change compared to Monday’s price, as per data from Indian Oil Corporation website.

Local prices of fuel in Delhi are the cheapest among all metros and most state capitals due to lower taxes. In January this year, petrol became cheaper by Rs 1.96 a litre and diesel by Rs 1.76 in Delhi on due to a fall in international crude prices.

People in Mumbai have to pay Rs 78.69 for a litre of petrol and Rs 69.36 for a litre of diesel. In Chennai, the retail price of petrol price was also unchanged at Rs 75.89 a litre and diesel at Rs 69.81 a litre.

Similarly, in Kolkata, the retail prices of petrol and diesel are Rs 75.71 a litre and Rs 68.46 a litre respectively. It is worth mentioning here that as per the daily pricing mechanism, the fuel prices are dependent on the international crude prices and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements.

In Noida, a litre of petrol is priced at Rs 74.74 and a litre of diesel is priced at Rs 66.35, no change compared to Monday. Similarly, in Gurugram, a litre of petrol is sold at Rs 72.94 and a litre of diesel is priced at 65.35.

Crude oil prices rose on Tuesday, in line with other asset classes as investors regained calm after Monday’s sharp sell-off on fears of the impact of the China coronavirus which sent crude to its lowest level in more than a year

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