After a rise for six consecutive days, petrol and diesel prices remained unchanged for the second day on Thursday as the crude oil prices eased after a rise in the past week.
As per the Indian oil website, the petrol rates in Delhi, Kolkata, Mumbai and Chennai were Rs 74.20/litre, Rs 76.89/litre, Rs 79.86/litre and Rs 77.13/litre respectively. The diesel prices were Rs 65.84/litre, Rs 68.25/litre, 69.06/litre and 69.59/litre respectively.
Fuel prices, which began rising from November 8, had been on the declining trend for more than a month. From its April peaks, oil has dropped almost 17% from as the trade war sapped demand and global supplies surged. Russia is unlikely to agree to deepen production cuts further, but could extend existing curbs to support Saudi Arabia, Reuters reported, while U.S. Vice President Mike Pence said it would be difficult to sign a trade agreement with China if demonstrations in Hong Kong are met with violence.
The West Texas Intermediate for December delivery slumped 1.84 US dollars to settle at 55.21 dollars a barrel on the New York Mercantile Exchange. The Brent crude futures fell 0.45 per cent to $62.17 a barrel. The international benchmark rose 2.53 per cent to $62.45 a barrel. West Texas Intermediate (WTI) crude futures dropped by 0.30 per cent to $56.05 per barrel.
(Inputs from Agencies)
