Petrol and diesel prices reduced today
Falling for the second consecutive day on Friday after stability of one day in petrol prices
new Delhi: Petrol and diesel prices were cut again on Friday. Petrol in Delhi is priced at Rs 79.18 per liter and diesel is sold at Rs 73.64 per liter. In Kolkata, the price of petrol has gone up to Rs 81.08 per liter and diesel 75.50 per liter. In Mumbai, the price of petrol has gone up to Rs 84.68 per liter and the price of diesel has been increased to Rs 77.18 per liter. Prices of petrol and diesel in Chennai are Rs 82.26 per liter and Rs 77.85 per liter respectively. After a day’s stability in petrol prices, it was the second consecutive day on Friday. Diesel prices also decreased. Prior to this, diesel prices remained stagnant for three days. Prices of petrol and diesel can continue as the price of crude oil in the international market is continuously being seen as a softening trend. Brent crude’s January futures on international futures market (ICE) on Friday fell 0.49 percent to $ 72.53 a barrel compared to last season. The December contract of US light WTI remained at $ 63.65 a barrel with a 0.53 per cent weakness.
Angel Commodity Energy Specialist Anuj Gupta said that after the indications of sluggishness in the global economy, there was already pressure on prices due to weak demand of oil, but now increasing the supply of oil by major oil producers, the pressure on prices has increased. Brent crude prices have fallen nearly $ 14 in the last one month. Meanwhile, due to the restrictions imposed on Iran from November 4, due to the shortage of supply of oil, the prospect of the increase in prices was reduced.
According to a report by the US Agency for Energy Information Administration (EIA), the production of oil in August rose to 4.14 million barrels per day in the week to 113.46 lakh barrels per day. On the domestic futures market MCX, the current month’s November futures contract closed at Rs 227, or 4.64 per cent, at Rs 4,665 per barrel on Thursday. Earlier, during the day trading, the lowest level of Rs 4,630 was a barrel.