There was no change in petrol and diesel prices for the third consecutive day on Thursday, with Delhi recording the lowest prices among all. While petrol is selling at Rs 7.27 per litre in Delhi, per litre price for diesel is Rs 66.41. In Mumbai, petrol and diesel are being sold at Rs 78.88 per litre and 69.61 per litre, respectively.
Fuel prices have shown a steady decline after a continuous rise for several days last month. Since October 4, petrol prices have declined by Rs 1.01 paise in the national capital, while diesel prices are down by Rs 0.89 paise. In a big relief, the petrol prices have come down to below Rs 80 per litre-level in Mumbai, but diesel is still above Rs 70 per litre in Chennai.
Petrol, diesel prices in four major cities today:
Delhi: Petrol - Rs 73.27; Diesel - Rs 66.41
Mumbai: Petrol - Rs 78.88; Diesel - Rs 69.61
Kolkata: Petrol - Rs 75.92; Diesel - Rs 68.77
Chennai: Petrol - Rs 76.09; Diesel - Rs 70.15
Battling a slowing economy, India on Tuesday implored oil cartel OPEC to not undertake deeper crude oil production cuts as it renewed its pitch for reasonable pricing of oil and stability in supplies, reported PTI. In a meeting with OPEC Secretary-General Mohammad Sanusi Barkindo, Oil Minister Dharmendra Pradhan also pitched for better commercial terms for crude oil imports, including reduction in official selling price, extension of credit period from existing 30 days to 90 days from bill of lading, freight discount and open credit based on creditworthiness of Indian state-run refineries.
Crude oil prices slid on Thursday after industry data showed a larger-than-expected build-up in stocks in the United States, adding to concerns that demand for oil around the world may weaken amid further signs of a global economic slowdown, reported Reuters. Global benchmark Brent crude oil futures LCOc1 had fallen by 40 cents, or 0.7 per cent, to $59.02 a barrel by 0110 GMT. US crude oil futures CLc1 were down by 46 cents, or 0.9 per cent, to $52.90.
Edited by Manoj Sharma