On Tuesday, petrol and diesel prices continued to rise for fourth consecutive day across all major cities. The petrol and diesel prices were raised by 10 paise and 18-19 paise per litre respectively.
So today, a litre of diesel costs Rs 71.31 in Mumbai, and Rs 67.69 in Delhi, while a litre of petrol is priced at Rs 80.79 in Mumbai, and Rs 75.14 in Delhi. Retail prices of the two automobile fuels are revised daily. Petroleum companies revise petrol and diesel prices on the basis of crude prices in the international market. Hence the prices vary according to the company.
Crude oil futures on Monday fell by Rs 2 to Rs 4,414 per barrel after participants reduced positions despite the oil gaining overseas. On the Multi Commodity Exchange, crude oil for January delivery dropped by Rs 2, or 0.05 per cent, to Rs 4,414 per barrel with a business volume of 14,697 lots.
Crude oil for February delivery was quoting lower by Re 1, or 0.02 per cent, at Rs 4,412 per barrel with an open interest of 377 lots. Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak spot demand. Globally, West Texas Intermediate crude oil was trading 0.15 per cent higher at USD 61.81 per barrel. Meanwhile, Brent Crude, the international benchmark, gained 0.31 per cent to trade at USD 68.37 per barrel in New York.
(Inputs from PTI)
