Petrol and diesel prices across major cities on Friday remained unchanged for eleventh consecutive day amid coronavirus outbreak and price war between Russia and OPEC countries.
According to the official website of Indian Oil Corporation, on Thursday, petrol now costs Rs 69.59 per litre in Delhi, Rs 75.30 per litre in Mumbai. Similarly, diesel costs Rs 62.29 a litre in Delhi, Rs 65.21 a litre in Mumbai. In Chennai, a litre of petrol will cost Rs 72.28 per litre whereas diesel is now priced at Rs 65.71 per litre, while in Kolkata, petrol and diesel will cost Rs 64.62 and Rs 72.29, respectively. The retail prices of the 2 fuels are revised daily. The petrol and diesel rates are revised on the basis of crude prices within the international market.
Crude oil futures on Thursday slumped 3.57 per cent to Rs 1,889 per barrel as participants trimmed their positions in line with weak trend overseas. On the Multi Commodity Exchange, crude oil for April delivery fell by Rs 70, or 3.57 per cent, to Rs 1,889 per barrel with a business volume of 28,716 lots.
Crude oil for May delivery was quoting lower by Rs 59, or 2.73 per cent, to Rs 2,105 per barrel with an open interest of 383 lots. Analysts said the fall in crude oil futures was mostly due to trimming of positions by participants amid low demand.
Globally, West Texas Intermediate crude oil fell 1.63 per cent to USD 24.09 per barrel and, Brent Crude slipped 0.55 per cent to USD 27.24 per barrel in New York.
(Inputs from PTI)
