Petrol, diesel prices increased. Check today’s rates in top cities
Petrol now costs Rs 69.26 per litre in Delhi, Rs 74.91 in Mumbai, Rs 71.87 in Chennai and Rs 71.39 in Kolkata
New Delhi: Petrol prices were hiked by 19-20 paise across the country on Saturday. Diesel prices, on the other hand, were increased by 29-31 paise. Petrol now costs Rs 69.26 per litre in Delhi, Rs 74.91 in Mumbai, Rs 71.87 in Chennai and Rs 71.39 in Kolkata. A litre of diesel, on the other hand, costs Rs 63.10 in Delhi, Rs 66.04 in Mumbai, Rs 66.62 in Chennai and Rs 64.87 in Kolkata.
Oil prices fell nearly 2% on Friday as investors worried about a global economic slowdown, snapping a nine-day winning streak spurred by US-China trade hopes, but clung to some gains from that rally to end the week higher. Brent crude futures dropped $1.2 to settle at $60.48 a barrel, a 1.95% loss. US West Texas Intermediate (WTI) crude futures were down $1 to settle at $51.59 a barrel, or 1.9%. Still, both benchmarks saw their second week of gains, with Brent rising about 6% and WTI up about 7.6%.
The rupee, on the other hand, has gone from being Asia’s best performer to the worst in two weeks, according to Bloomberg data. The rupee has slid about 1% versus dollar this year after posting the best quarterly gain since March 2017. A Bloomberg survey of analysts forecast a drop to 71.20 per dollar by March 31. Mizuho Bank sees the currency’s drop extending to 72.50 by end-March, while ING Group expects it to test 73 levels during the period. Any fall in the rupee affects India’s oil imports. The country imports almost 80% of its crude oil requirement.
With agency inputs
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