Petrol, diesel prices are stable, crude oil is in a limited range

Petrol, diesel prices are stable, crude oil is in a limited range

July 8, 2020 Off By Vishnu Mahanand

New Delhi. There was no change in the prices of petrol and diesel on Wednesday. A day earlier, oil companies had increased the price of diesel. Petrol prices are stable for the ninth consecutive day. On the other hand, the price of crude oil in the international market has remained limited for the past few weeks. According to the website of Indian Oil, the price of diesel in Delhi, Kolkata, Mumbai and Chennai remained unchanged at Rs 80.78, Rs 75.89, Rs 79.05 and Rs 77.91 per liter respectively on Wednesday. At the same time, petrol price remains Rs 80.43, Rs 82.10, Rs 87.19 and Rs 83.63 per liter respectively for the ninth consecutive day in the four metros.

Oil marketing companies on Tuesday raised diesel prices by 25 paise in Delhi and Kolkata, by 22 paise in Mumbai and 19 paise per liter in Chennai, which is the first increase in diesel prices this month.

Explain that after a long gap, oil marketing companies started the process of increasing the price of petrol and diesel from June 7, after which diesel has become costlier by Rs 11.39 per liter in the National Capital Region, while petrol price has increased by Rs 9.17 per liter. is.

In Delhi, diesel is getting 35 paise per liter higher than petrol.

Brent crude, the benchmark crude oil on the international futures market Intercontinental Exchange (ICE), was trading at $ 42.97 a barrel, down 0.26 percent from its previous session on Wednesday in the September futures contract. Whereas before, Brent price was between $ 43.18 per barrel to $ 42.76 per barrel. Brent crude has been in the range of $ 37.01 to $ 43.93 per barrel for the past month.

At the same time, the US light crude West Texas Intermediate (WTI) August futures contract on the New York Mercantile Exchange (NIMAX) was trading at $ 40.48 a barrel, down 0.34 percent from the previous session.