After recent marginal hikes, petrol prices left unchanged today; petrol at Rs 70.63/litre in Delhi

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Updated: December 19, 2018 9:29:41 AM

Petrol price today: In the national capital New Delhi, petrol can be availed at Rs 70.63 per litre and diesel at Rs 64.54 per litre. In Mumbai, petrol and diesel were being sold at Rs 76.25 per litre and 67.55 per litre, respectively.

why do petrol and diesel price rise after electionPetrol price today: In Mumbai, petrol and diesel were being sold at Rs 76.25 per litre and 67.55 per litre, respectively. (Reuters)

Petrol, diesel prices today: The oil market companies Wednesday decided to keep the prices of diesel and petrol unchanged in the four metro cities after marginal changes on Monday and Tuesday. In the national capital New Delhi, petrol can be availed at Rs 70.63 per litre and diesel at Rs 64.54 per litre. In Mumbai, petrol and diesel were being sold at Rs 76.25 per litre and 67.55 per litre, respectively.

In Kolkata, petrol was sold at Rs 72.71 per litre and diesel at Rs 66.30 per litre. Petrol was retailing at Rs 73.29 per litre and diesel Rs 68.14 per litre in Chennai. While petrol is being retailed at Rs 71.48 a litre in Gurugram, diesel is being sold at Rs 64.49 a litre.

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On October 4, the prices of petrol touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai. On the same day, diesel also surged to a record high of Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai. From the highs of October 4, the petrol prices are down approximately Rs 13.5 a litre.

Meanwhile, crude prices have declined by about 30% since early October when it was at $86 per barrel, making a forecast of $100 crude by January look true, and the rupee has also gained strength.

On the other hand, Asian share markets played second string to bonds on Wednesday as a spectacular fall in the price of oil spurred speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the session.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 percent, while Shanghai blue chips were flat, Reuters reported. In the United States, the benchmark S&P 500 stock index ended little changed in a choppy trading session on Tuesday as the possibility of a partial U.S. government shutdown raised investor jitters ahead of a highly anticipated meeting of the Federal Reserve.

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