With oil prices rallying around 9% since early October, the prices of petrol and diesel are on the boil once again. Since Friday, petrol price has jumped by a sharp 50 paise a litre. During the day, state-run fuel retailers increased the price of petrol by 15 paise a litre and that of diesel by 6 paise a litre.
In New Delhi, a litre of petrol costs ₹73.20 and diesel ₹65.85. In Mumbai, a litre of petrol is priced at ₹78.87 and diesel ₹69.07. If you are Gurgaon, you are charged ₹73.08 for petrol and ₹65.19 for diesel. In Bengaluru, petrol is priced at ₹75.70 and diesel ₹98.09.
In November, fuel prices were in the declining mode but the trend reversed from Friday with a 10 paise hike in petrol price. Last month, fuel prices had fallen consistently.
Last week, Brent crude rose 1.3% while U.S. crude was up 1.9% as the US and China moved closer toward a limited trade agreement, while data last week showed some signs of improvement in the US and Chinese economies.
WTI for December delivery fell 40 cents, or 0.7%, to $56.84 a barrel on the New York Mercantile Exchange as of 10:57 a.m. in Singapore. It finished up 0.2% on Friday at $57.24, the highest close since Sept. 24.
Brent for January dropped 0.8% to $62.04 a barrel on the London-based ICE Futures Europe Exchange after climbing 1.3% last week. The global crude benchmark traded at a $5.17 premium to WTI for the same month.
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