After seven days of consecutive hikes, the price of petrol and diesel was left unchanged today. On Wednesday, in Mumbai a litre of petrol today costs Rs 80.29 while diesel costs Rs 70.28 per litre, no change compared with Tuesday’s price.
In Delhi a litre of diesel costs Rs 66.99, while a litre of petrol is priced at Rs 74.63. Retail prices of the two automobile fuels are revised daily. Prices vary across the country due to differences in levies imposed by states.
Crude oil futures on Monday fell by Rs 9 to Rs 4,285 per barrel after participants reduced positions, tracking a subdued trend in global markets. On the Multi Commodity Exchange, crude oil for January delivery dropped by Rs 9, or 0.21 per cent, to Rs 4,285 per barrel with a business volume of 18,991 lots.
Crude oil for February delivery was quoting lower by Rs 10, or 0.23 per cent, at Rs 4,287 per barrel with an open interest of 238 lots. Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak global cues. Globally, West Texas Intermediate crude oil was trading 0.46 per cent lower at USD 60.16 per barrel. Meanwhile, Brent Crude, the international benchmark, slipped 0.36 per cent to trade at USD 65.90 per barrel in New York.
(Inputs from PTI)