On Thursday, petrol and diesel prices remained unchanged for second consecutive day as per the details released by the state-owned Indian Oil Corporation (IOCL).
So now, a litre of diesel costs Rs 67.75 in Mumbai, and Rs 64.65 in Delhi, while a litre of petrol is priced at Rs 77.56 in Mumbai, and Rs 71.89 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 on Wednesday edged up by Rs 49 to Rs 3,747 per barrel as speculators widened their positions driven by spot demand.
On the Multi Commodity Exchange, crude oil for delivery in February traded higher by Rs 49, or 1.33 per cent, to Rs 3,747 per barrel in 31,058 lots. Crude oil for March delivery was up by Rs 48, or 1.28 per cent, to Rs 3,786 per barrel with an open interest of 8,868 lots.
Globally, West Texas Intermediate was trading higher by 0.83 per cent at USD 52.48 per barrel. However Brent crude, the international benchmark, edged lower by 0.74 per cent to USD 58.18 per barrel in New York.