Petrol, diesel prices stabilise, crude oil rates surge

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SME Times News Bureau | 08 Jan, 2020
Petrol and diesel prices remained stable on Wednesday after a continuous rise for six days in the new year.

However, given the rise in the price of crude oil in the international market, there is no hope of getting relief on the fuel prices in the coming days.

According to the Indian Oil website, petrol price in Delhi, Kolkata, Mumbai and Chennai remained unchanged at Rs 75.74, Rs 78.33, Rs 81.33 and Rs 78.69 per litre, respectively.

The price of diesel in the four metros also remained stable at Rs 68.79, Rs 71.15, Rs 72.14 and Rs 72.69 per litre respectively.

On the international futures markets, Intercontinental Exchange, ICE, crude's March delivery contract was trading 2.20 per cent higher at $69.80 per barrel as compared to the previous session, while Brent crude rose to $71.28 per barrel during trading. The price had gone up to $71.95 per barrel on September 16, 2019.

The American Light Crude West Texas Intermediate's (WTI) February contract was trading up 1.98 per cent at $63.94 per barrel on the New York Mercantile Exchange( NYMEX), while before that the WTI price went up to $65.65 per barrel.