Petrol and diesel prices rise againBusiness, News September 14, 2019, Comments Off 23
Petrol and diesel prices increased again on Thursday. Oil marketing companies have increased the price of petrol by six paise in Delhi and Kolkata, by five paise in Mumbai and seven paise per liter in Chennai. At the same time, the price of diesel has increased by five paise in Delhi, Kolkata and Mumbai, while by six paise per liter in Chennai. On the other hand, the price of crude oil has returned again in the international market.
According to market analysts, the rise in crude oil prices is being observed in the hope of easing trade tensions between the US and China. On the other hand, prices have got support in the US due to decreasing crude oil reserves. If this increase in the price of crude oil continues, then petrol and diesel may become more expensive in the coming days.
According to the website of Indian Oil, petrol prices in Delhi, Kolkata, Mumbai and Chennai increased to Rs 71.82, Rs 74.55, Rs 77.50 and Rs 74.63 per liter respectively. Diesel prices in the four metros have also increased to Rs 65.19, Rs 67.60 and Rs 68.37 and Rs 68.90 per liter, respectively.
According to news agency IANS, the November delivery contract of Brent crude, the benchmark crude oil on the international futures market Intercontinental Exchange, ie ICE, was trading at $ 61.14 a barrel, up 0.33 percent. At the same time, American Light Crude WTI’s October delivery contract was trading up 0.65 percent at $ 56.11 a barrel on the New York Mercantile Exchange, or Nymax.
In the US, crude oil reserves have decreased for the fourth consecutive week. According to the report of the US agency Energy Information Administration, or EIA, crude oil reserves decreased by 6.9 million barrels in the week ended September 6. According to the EIA, crude oil reserves in the US were recorded at 41.6 million barrels, which was October The lowest level since 2018.