NEW DELHI: Even as crude oil rates have jumped by more than 1.5% during the last seven days, state-run fuel retailers today refrained from changing the price of petrol and diesel for the second consecutive day today.
A litre of petrol today costs ₹70.33 in Delhi, ₹75.97 in Mumbai, ₹72.65 in Bengaluru, ₹73 in Chennai, ₹71.26 in Gurgaon, ₹70.25 in Noida and ₹72.44 in Kolkata. Diesel, on the other hand, costs ₹65.62 a litre in Delhi, ₹68.71 in Mumbai, ₹67.78 in Bengaluru, ₹69.32 in Chennai, ₹65.4 in Gurgaon, ₹64.85 in Noida and ₹67.40 in Kolkata.
Since the beginning of this year, the price of petrol has risen by about ₹1.7 a litre and that of diesel about by ₹3 a litre. If the last 30 days are taken into account, the price of petrol has jumped by about 50 paise per litre while the price of diesel is up by about ₹2 per litre.
In the international market, oil prices rose today as the Organization of the Petroleum Exporting Countries (OPEC) said it had cut supply deeply in January and as US sanctions hit Venezuela's oil exports, Reuters reported. US West Texas Intermediate (WTI) crude oil futures were trading close to $54 per barrel, up over 1%, from their last close.
International Brent crude futures were up 1%, at $63 per barrel.
OPEC, which Saudi Arabia de facto leads as the world's top crude oil exporter, said that it had cut its output by almost 800,000 barrels per day (bpd) in January to 30.81 million bpd. US output, on the other hand, is expected to rise further, with the Energy Information Administration saying that US oil crude production is expected to reach 13.2 million bpd by 2020.