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Petrol, diesel prices stable for 2nd day; Check rates here

Petrol, diesel prices stable for 2nd day; Check rates here

Petrol, diesel prices stable for 2nd day; Check rates here
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By CNBC-TV18 Mar 7, 2019 8:55:19 AM IST (Updated)

Petrol price in Mumbai stood at Rs 77.87 a litre while diesel was at Rs 70.86 per litre, at par with December 2018 levels. According to the Indian Oil Corp data, in New Delhi, petrol was selling at Rs 72.24 per litre and diesel at Rs 67.64 per litre.

Petrol and diesel prices remained unchanged across major cities on Thursday.

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Petrol price in Mumbai stood at Rs 77.87 a litre while diesel was at Rs 70.86 per litre, at par with December 2018 levels. According to the Indian Oil Corp data, in New Delhi, petrol was selling at Rs 72.24 per litre and diesel at Rs 67.64 per litre.
In Kolkata and Chennai, petrol stood at Rs 74.33 per litre and Rs 75.02 per litre while diesel stood at Rs 69.43 per litre and Rs 71.49 a litre, respectively.
Transport fuel rates were hiked sharply on January 13 as global crude oil rates continued to climb handsomely following the implementation of output cuts by global oil producers from January 1.
US West Texas Intermediate (WTI) crude oil futures were at $56.45 per barrel at 0234 GMT, up 23 cents, or 0.4 percent, from their last settlement. Brent crude futures were at $66.36 per barrel, up 37 cents, or 0.6 percent.
As per the country's dynamic pricing mechanism, the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee.
Meanwhile, analysts at Fitch Solutions and consultants Wood Mackenzie expects India's diesel consumption to rise to a record this year on increasing infrastructure spending by the current government. They forecast India's diesel demand to rise in 2019 by 5.7 percent and 6.4 percent, respectively, from 2018.
(With inputs from agencies)
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