The price for Diesel has increased in the second consecutive day today, after a 15 paise jump yesterday, today’s price has taken a leap of 16 paise jump again. All this while the price of Petrol has remained unchanged.
The cost of 1-litre diesel in Mumbai is Rs 69.59, while yesterday, you could buy a litre of diesel for Rs 69.43. Whereas, a litre of Petrol will still cost you Rs 80.29.
Petrol prices remained steady for the third day in a row, while consumers were relieved by the decrease in petrol prices for six consecutive days before that.
Crude oil contracts on the Multi Commodity Exchange of India and the New York Mercantile Exchange were largely flat yesterday after the US Energy Information Administration released a mixed set of data for crude oil inventory late on Wednesday, analysts said.
EIA reported a decline in the US crude stockpiles by 1.1 mln barrel against analyst expectations of a 2.0-mln-bbl decline for the week ended Friday, which supported prices initially. However, a 2.5-mln-bbl rise in the petroleum stocks and a 1.5-mln-bbl rise in distillate stocks weighed on the sentiment for the commodity.
Late on Wednesday, US President Donald Trump was charged with congressional investigations and abuse of power, and impeached by the House of Representatives. The news of impeachment also made investors worried as it may affect the outcome of the trade deal between the US and China, said analysts.
