New Delhi: Petrol prices were hiked by 19-20 paise across the country on Saturday. Diesel prices, on the other hand, were increased by 29-31 paise. Petrol now costs 69.26 per litre in Delhi, 74.91 in Mumbai, 71.87 in Chennai and 71.39 in Kolkata. A litre of diesel, on the other hand, costs 63.10 in Delhi, 66.04 in Mumbai, 66.62 in Chennai and 64.87 in Kolkata.

Oil prices fell nearly 2% on Friday as investors worried about a global economic slowdown, snapping a nine-day winning streak spurred by US-China trade hopes, but clung to some gains from that rally to end the week higher. Brent crude futures dropped $1.2 to settle at $60.48 a barrel, a 1.95% loss. US West Texas Intermediate (WTI) crude futures were down $1 to settle at $51.59 a barrel, or 1.9%. Still, both benchmarks saw their second week of gains, with Brent rising about 6% and WTI up about 7.6%.

The rupee, on the other hand, has gone from being Asia’s best performer to the worst in two weeks, according to Bloomberg data. The rupee has slid about 1% versus dollar this year after posting the best quarterly gain since March 2017. A Bloomberg survey of analysts forecast a drop to 71.20 per dollar by March 31. Mizuho Bank sees the currency’s drop extending to 72.50 by end-March, while ING Group expects it to test 73 levels during the period. Any fall in the rupee affects India’s oil imports. The country imports almost 80% of its crude oil requirement.

With agency inputs

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