New Delhi: State-controlled oil marketing companies on Thursday (February 20) refrained from changing the price of petrol and diesel for the second successive day across the country. Global benchmark Brent crude rose 1 per cent today and prices have regained some of their 2020 slide so far this month due to a drop in new coronavirus cases in China’s Hubei province—the epicentre of the outbreak.
Rates in top cities
In Delhi, a litre of petrol today costs Rs 71.89 while diesel costs Rs 64.65 per litre, no change compared with Wednesday’s price. The pump prices of fuel are the cheapest Delhi among all metros and most state capitals due to lower taxes. In the last 20 days, petrol became cheaper by Rs 1.30 a litre and diesel by Rs 1.57 in the national capital.
If you are in Chennai, you will have to pay 74.68 for a litre of petrol and Rs 68.27 for diesel, as per data available with Indian Oil Corp website. Likewise, in Mumbai, petrol and diesel are selling for Rs 77.56 a litre and Rs 67.75 per litre respectively, no change in prices against Wednesday's rates.
People in Kolkata have to shell out Rs 74.53 for a litre of petrol while diesel retailed at Rs 66.97 per litre. In Noida, the petrol price remained stable at Rs 73.82 a litre and diesel costs Rs 64.97 per litre. In Gurugram, too, petrol, diesel prices remained static at Rs 72 a litre and Rs 64.08 per litre, respectively.
Rupee vs dollar
It is worth noting that the fuel prices change on a daily basis by a few paisa per litre depending on several factors such as the movement of crude oil prices in international market and variation in foreign exchange rates. The forex market was closed on Wednesday on account of Chhatrapati Shivaji Maharaj Jayanti. The Indian rupee on Tuesday fell by 22 paise to settle at 71.54 against the US dollar.
Cleanest petrol, diesel from April 1
From April 1, India will migrate to the world's cleanest petrol and diesel as it moves straight to Euro-VI emission compliant fuels from Euro-IV grades now. The country will join the select league of nations using fuels containing just 10 parts per million of sulphur as it looks to reduce vehicular emissions. Local prices of petrol and diesel may go up by 50 paise to Re 1 per litre beginning April when the new emission norms come into effect.
Brent crude
Many analysts say expectations of supply cuts by the Organisation of the Petroleum Exporting Countries (Opec) and its allies have strengthened crude oil prices. On Thursday, Brent crude oil futures were trading at USD 59.57 per barrel, up 45 cents, or 0.8 per cent, from their last close. West Texas Intermediate (WTI) crude futures rose by 49 cents, or 0.9 per cent, to USD 53.78 per barrel.
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