Diesel prices rise, petrol remains stable across major cities, diesel selling at 65.91 a litre in Delhi

The state-run oil marketing companies have hiked the diesel prices while keeping the petrol prices unchanged on Thursday across Delhi, Mumbai, Kolkata and Chennal. In the national capital, people need to shell out Rs 65.91 a litre for diesel against the previous price of Rs 65.86 a litre, while for petrol, they need to sell 71.18 a litre.  In Mumbai, petrol is selling at Rs 76.79 a litre, whereas diesel is being sold at Rs 69.05 a litre. While the petrol prices have been kept stable, the diesel rates have been hiked by 5 paise from the previous price of Rs 69 a litre in Mumbai.

In Kolkata, the petrol and diesel are costing Rs 73.25 a litre and Rs 67.66 respectively. The diesel rates have been raised by 5 paise a litre from yesterday’s price of Rs 67.61 a litre. In Chennai, one has to spend Rs 73.88 a litre for one litre of petrol and for the same quantity of diesel, they need to incur Rs 69.66. Yesterday, while the petrol was selling at the same price, diesel prices were less by 5 paise at Rs 69.61 a litre.

The crude oil prices are likely to get benefit from the appreciation in rupee which is likely to trade with a lower bias in a range between resistance at 70.45 and support at 70.05 after the US eased trade war fears to some extent by delaying the imposition of tariffs on auto imports by six months,” Amit Sajeja, Associate Vice President, Motilal Oswal told Financial Express Online.

The crude oil prices on Wednesday slumped to Rs 4,303 a litre, lower by 1.13 percent amid continuos sell-off by market participants. The global crude oil prices also fell on increasing US inventory and Suadi-Arbai supply assurance, according to a report by PTI. The international Brent crude rose to $72.12 a barrel, up 0.49 percent from the last close, while the US WTI also edged higher to $62.34 a barrel, 0.52 percent higher than the previous close. The oil prices have been under pressure after the world’s largest economy US announced its decision of doing away with sanction waivers on large importers including India of Iranian oil from May 1.