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Petrol, diesel prices remain unchanged for 9th day in a row

The retail fuel prices remained steady for the 9th consecutive day on Thursday, with the price of petrol at Rs 90.56 per litre in the national capital. The price of diesel stood at Rs 80.87 per litre, according to Indian Oil Corporation, the country’s largest fuel retailer.

In Mumbai, the petrol price remained unchanged at Rs 96.98 per litre on Monday. The cost of diesel also was the same at Rs 87.96 a litre.

The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis and any revision is implemented from 6 am in the morning.

On Wednesday, oil futures inched higher on an improving global economic outlook, but gains were capped by rising gasoline inventories and fears that new coronavirus outbreaks will weaken a global recovery in fuel demand.

Brent crude futures settled at $63.16 a barrel, up 42 cents, or 0.7 percent. U.S. West Texas Intermediate crude settled at $59.77 a barrel, gaining 44 cents, or 0.7 percent, according to news agency Reuters.

Source
CNBC
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