Petrol and diesel prices remain unchanged for over a month despite crude oil rates tumbled from its peak due to weak demand caused by the coronavirus pandemic. The fuel rates were hiked in Mumbai and Kolkata by Rs 1 on April 2.
According to the official website of Indian Oil Corporation, on Saturday, petrol now costs Rs 69.59 per litre in Delhi, Rs 76.31 per litre in Mumbai. Similarly, diesel costs Rs 62.29 a litre in Delhi, Rs 66.21 a litre in Mumbai. In Kolkata, a litre of petrol will cost Rs 73.30 per litre whereas diesel is now priced at Rs 65.62 per litre. In Chennai, a litre of petrol will cost Rs 72.28 per litre whereas diesel is now priced at Rs 65.71 per litre.
Crude oil futures on Friday plummeted 3.07 per cent to Rs 1,513 per barrel as participants trimmed their positions on weak spot demand. On the Multi Commodity Exchange, crude oil for April delivery fell by Rs 48, or 3.07 per cent, to Rs 1,513 per barrel with a business volume of 33,707 lots.
Crude oil for May delivery was quoting lower by Rs 53, or 2.52 per cent, to Rs 2,053 per barrel with an open interest of 7,766 lots. Globally, West Texas Intermediate crude oil fell 4.38 per cent to USD 19 per barrel, however, Brent Crude rose 1.01 per cent to USD 28.10 per barrel in New York.
(Inputs from PTI)
