Fuel prices: Petrol, diesel remain unchanged; check latest rates

One day after the OMCs increased the rates on Monday due to recovery in crude globally, petrol and diesel prices were unchanged on Tuesday due to rise in international crude oil price. In the National capital Delhi, petrol is selling at Rs 68.50 and diesel is available at Rs 62.24, no change against yesterday's price. In the business capital, Mumbai, the petrol is available at Rs 74.16 while diesel price is set at Rs 65.12 per litre. In the NCR, in Noida, petrol price remained same at Rs 69.79 and diesel price at Rs 61.93. In Gurugram, petrol, diesel prices remained unchanged at Rs 69.82 and Rs 62.54 respectively.

In the other two metro cities- Chennai and Kolkata- petrol is priced at  Rs 71.07 and Rs 70.64, respectively. Similarly, diesel in the two cities was retailing at Rs 65.70 and Rs 64.01, respectively, on Tuesday.

The crude oil prices witnessed a minor recovery amid hopes of trade talks between the US and Chinese officials in Beijing. The positive hopes on a fullstop to trade war among two biggest economies. While OPEC-led supply axing also affected markets. 

As the fuel prices have corrected over 18 per cent since June 2018, the commuters continue to get relief. It may be noted that retail fuel prices depend on 15 day average of both international crude price and rupee-dollar exchange rate. However, international Brent crude futures were at $57.43 per barrel, up 10 cents, or 0.1 percent from their last close.

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Meanwhile, the Indian rupee appreciated against the US dollar and was trading 0.50 per cent lower at 70.03 against the US dollar on Tuesday.

The central and state governments cut taxes on oil in the year 2018, when petrol and diesel were hovering at all time highs. Brent was over $85 per barrel in October 2018. Since then, there is a major 40 per cent correction in the crude prices.