Petrol and diesel prices held steady on August 18, the latest price notification issued by fuel retailers showed. The prices have stayed unchanged for more than a month.
Petrol in Mumbai is being sold for Rs 106.31 per litre and diesel for Rs 94.27. Petrol and Diesel in Delhi costs Rs 96.72 and Rs 89.62 a litre. Petrol and diesel are priced at Rs 102.63 and Rs 94.24 in Chennai and at Rs 106.03 and Rs 92.76 in Kolkata.
Oil marketing companies are reportedly incurring a loss of Rs 13.08 a litre on petrol and Rs 24.09 on diesel. India meets 80 percent of its fuel needs through imports.
Oil prices hold steady as recession worries offset lower U.S. stocks
Oil prices were little changed on Thursday as investors grappled with falling stockpiles in the United States, rising output from Russia and worries about a potential global recession.
Brent crude futures climbed 10 cents, or 0.1%, to $93.75 a barrel by 0347 GMT. U.S. crude futures gained 10 cents, or 0.1%, to $88.21 a barrel.
Prices rose more than 1% during the previous session, although Brent touched its lowest level since February. (Reuters)
India's fuel demand continues to fall in August as monsoon sets in
Diesel demand in India fell for the second month in a row as the onset of monsoon chipped away consumption in key sectors like agriculture, preliminary industry data showed Tuesday.
Petrol and diesel demand had fallen month-on-month in July. While petrol consumption is almost flat in the first half of August, diesel - the most widely used fuel in the country - saw demand drop 11.2 per cent during August 1-15 to 2.82 million tonnes from 3.17 million tonnes in the same period of the previous month.
The arrival and intensity of monsoon weigh heavily on diesel demand in the country and consumption traditionally is lower in July-September than in April-June. Read More
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
