Diesel prices rise by 15 paise, petrol stable for 2nd consecutive day. Check today’s rates in top cities

New Delhi: State-run oil marketing companies on Thursday (December 18) increased the retail prices of diesel by 15-16 paise after a gap of nine successive days across major cities of the country. Petrol prices, on the other hand, kept unchanged for the second consecutive day across the country. In Delhi, diesel prices rose to Rs 66.19 a litre as against Rs 66.04 per litre on Wednesday while petrol is retailing at Rs 74.63 a litre, no change in price compared with yesterday’s price, as per data from Indian Oil Corporation website.

Worth mentioning here is that the pump prices of fuel in Delhi are the cheapest among all metros and most state capitals due to lower taxes. On Wednesday, the pump prices of petrol and diesel were kept unchanged across the country.

In Kolkata, people have to pay Rs 68.60 for a litre of diesel after a 15 paise jump from Wednesday’s rate. Petrol prices were constant at Rs 77,29 per litre. Similarly, in Mumbai, the retail prices of diesel and petrol are Rs 69.43 a litre (16 paise more ) and Rs 80.29 (unchanged) per litre, respectively.

In Chennai, the retail price of diesel went up by 16 paise at Rs 69.97 per litre today. There is no change in petrol price against Wednesday’s price. In Noida, you have to pay Rs 66.50 (15 paise increase) for a litre of diesel and Rs 76 (unchanged) for petrol. In Gurugram, diesel rose to Rs 65.48 a litre (15 paise more) and petrol is selling at Rs 74.20 (unchanged).

As per the daily pricing mechanism, the prices of fuel 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 Wednesday, the Indian rupee settled at 70.97 against the US dollar supported by a record-breaking run in equity markets and weak crude oil prices.

In the international oil market, crude prices declined on Thursday after data demonstrated US crude inventories had dropped while output cuts by major producers kept supply tight. International benchmark Brent Crude oil futures were trading at USD 66.16 per barrel, down 1 cent from their last close. West Texas Intermediate (WTI) crude futures plunged by 3 cents to USD 60.90 per barrel.