Petrol, diesel prices continue to fall for second consecutive day

On Friday, some relief for consumers as petrol and diesel prices continue to fall for second consecutive day. The price of petrol fell by 14 paise a litre while that of diesel by 16 paise per litre in all major cities across the country.

So now, a litre of diesel costs Rs 72.11 in Mumbai, and Rs 68.77 in Delhi, while a litre of petrol is priced at Rs 81.00 in Mumbai, and Rs 75.41 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 prices rose Rs 21 to Rs 4,121 per barrel on Thursday as speculators created fresh positions amid positive trend in the spot market. On the Multi Commodity Exchange, crude for January delivery traded higher by Rs 21, or 0.51 per cent, at Rs 4,121 per barrel in 18,437 lots.

Analysts said fresh bets created by participants kept crude prices higher in futures trade. Globally, West Texas Intermediate crude oil was trading 0.38 per cent higher at USD 58.03 per barrel, while Brent crude, the international benchmark, rose 0.36 per cent to USD 64.23 per barrel in New York.

(Inputs from Agencies)

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