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Last Updated : Mar 11, 2020 05:30 PM IST | Source: Moneycontrol.com

Fuel prices: Petrol sells at Rs 70.29 in Delhi, diesel at Rs 63.01

Meanwhile, a litre of petrol in Mumbai, Chennai and Kolkata costs Rs 75.99, Rs 73.02 and Rs 72.98 as on March 11. Diesel prices in these cities is at Rs 65.97, Rs 66.48 and Rs 65.34 respectively.

Fuel prices on March 11 were left unchanged, after six successive days of rate cuts. This, even as oil prices slipped by over 22 percent on March 9 after the failure of an agreement between Saudi Arabia and Russia on the subject of an output cut.

In the national capital, petrol and diesel are available at Rs 70.29 a litre and Rs 63.01 a litre respectively.

Meanwhile, a litre of petrol in Mumbai, Chennai and Kolkata costs Rs 75.99, Rs 73.02 and Rs 72.98 as on March 11. Diesel prices in these cities are at Rs 65.97, Rs 66.48 and Rs 65.34 respectively.

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In Bengaluru and Gurugram, petrol prices stood at Rs 72.70 per litre and Rs 70.76 per litre respectively while a litre of diesel costs Rs 65.16 and Rs 62.69.

Following the price war among the major oil-producing nations, petrol prices in India fell below the Rs 71-mark on March 9. The ongoing price war saw international crude prices plunging by their biggest margin since the 1991 Gulf war.

This could likely help India see a cut in its import bill as it imports over 84 percent of its oil needs. However, the price cut is also expected to spell bad news for already stressed state-run firms like Oil and Natural Gas Corporation.

Meanwhile, crude oil futures gained Rs 2,558 per barrel on March 11 as participants increased their long position as seen by the open interest.
First Published on Mar 11, 2020 05:30 pm
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