Petrol & diesel prices unchanged, crude remains soft

Diesel and petrol rates remained unchanged on Wednesday as oil marketing companies paused after reducing diesel price for the past five days while keeping the petrol price steady.

The development is in line with the movement of global oil prices. Crude prices remained soft for the second successive day as prices fell by up to three per cent in the last trading session.

Continuing coronavirus pandemic has impacted the oil demand and pulled down prices in the absence of any other trigger to lift the markets.

In the national capital, diesel continues to be priced at Rs 70.63 per litre. Similarly, prices in Mumbai, Chennai and Kolkata, remained unchanged at Rs 77.04, Rs 76.10 and Rs 74.15 respectively.

The petrol price has remained unchanged for seven consecutive days. In Delhi, Mumbai, Chennai and Kolkata, petrol was priced at Rs 81.06, Rs 87.74, Rs 84.14, and Rs 82.59 per litre respectively.

Benchmark Brent crude price for December delivery on intercontinental exchange fell marginally on Wednesday to $41.11 per barrel. Similarly, US crude WTI on Nymex fell 0.74 per cent YoY to $39 a barrel.