OIL & GAS

Diesel price falls again after 2-day pause, no relief on petrol

Diesel price continued to decline on Friday after a two-day pause as the product prices fell globally while crude prices remained steady. Oil marketing companies, however, kept petrol prices unchanged for the third consecutive day.

In the national capital, diesel price fell by 18 paisa per litre to Rs 71.10 a litre down from Rs 71.28 per litre on Thursday. The petrol price remained static at Rs 81.06 a litre. In the other metros of Mumbai, Chennai and Kolkata, diesel price fell between 17-20 paisa per litre.

The price fall is on the back of expectation of a slowing demand for oil globally as a second wave of coronavirus spike threatens further to derail the economic activity.

Though crude prices revived slightly on Friday after falling continuously for the last few days, it is expected to remain soft on demand expectations.

Source
ET Energy World
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