Petrol, Diesel Prices Stable Across All Metros

A petrol pump is pictured at a petrol station in Essex, east of London, on October 18, 2011. Britain's annual inflation surged to 5.2 percent in September on soaring energy prices, reaching a three-year high and far above levels in other major European countries, official data showed on Tuesday. Analysts said British inflation may rise even further before the end of 2011 but should fall back sharply next year as sliding demand for energy caused by a global economic slowdown weighs on oil, gas and electricity costs. AFP PHOTO / Ki Price (Photo credit should read Ki Price/AFP/Getty Images)

Oil marketing companies have left petrol and diesel prices unchanged across the country on Wednesday. According to Indian Oil Corporation website, a litre of petrol costs Rs 74.76 in Delhi, Rs 77.44 in Kolkata, Rs 80.42 in Mumbai and Rs 77.72 in Chennai on Wednesday. Dies el costs Rs 65.73 a litre in Delhi, Rs 68.14 a litre in Kolkata, Rs 68.94 a litre in Mumbai and Rs 69.74 a litre in Chennai on Wednesday.

The fuel prices are the cheapest in Delhi compared to all metros due to lower taxes. As per the daily pricing mechanism, the fuel prices are dependent on the global crude prices and the rupee-US dollar exchange rate as India imports almost 80 per cent of its crude requirements. The benchmark Brent crude was $62.98 per barrel in international market on Tuesday.

Deputy vice president of Angel Broking, Anuj Gupta said: “The report of increase in crude oil stock in America has led to the decline in the international prices. This is likely to continue as talks on tariffs between the US and China are also going on which may lead to de-escalation of tensions.”