On Saturday, petrol and diesel price were cut for the third consecutive day across all major cities. The price of petrol was cut by 27 paise and that of diesel by 30-32 paise on Saturday bringing relief to the consumers.
So now, a litre of diesel costs Rs 70.56 in Mumbai, and Rs 67.31 in Delhi, while a litre of petrol is priced at Rs 79.76 in Mumbai, and Rs 74.16 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.
On the Multi Commodity Exchange, crude oil for delivery in February traded higher by Rs 51, or 1.3 per cent, to Rs 3,982 per barrel in 27,758 lots. Crude oil for March delivery was up by Rs 47, or 1.19 per cent, at Rs 3,994 per barrel with an open interest of 671 lots.
Globally, the West Texas Intermediate was trading up 0.38 per cent to USD 55.80 per barrel. Meanwhile, Brent crude, the international benchmark, edged up 0.35 per cent to USD 62.26 per barrel in New York.
(Inputs from Agencies)