After rising for six consecutive days, the price of diesel was left unchanged today. Petrol price, too, was stable for the eighth day. In New Delhi, a litre of petrol today costs ₹74.63 and diesel ₹66.99. In Mumbai, a litre of petrol costs ₹80.29 a litre and diesel ₹70.28 a litre.
If you are in Bengaluru, you pay ₹77.18 for petrol and ₹69.27 for diesel. In Chennai, petrol costs ₹77.58 for petrol and ₹70.82 for diesel. Those in Hyderabad will have to pay ₹74.92 for petrol and ₹73.10 for diesel. In Gurgaon, you pay ₹74.20 for petrol and ₹66.16 for diesel.
Crude oil rates, which settled above $61 a barrel, is on course for the best month in nearly a year after the US and China made a breakthrough on an initial trade deal and the Organization of Petroleum Exporting Countries (OPEC) and its partners agreed to deepen output cuts.
Brent crude settled up 81 cents, or 1.22%, at $67.20 a barrel after a shortened session ahead of the Christmas holiday. US West Texas Intermediate settled up 59 cents, or 0.97%, at $61.11 a barrel.
United States President Donald Trump has said that he and Chinese President Xi Jinping would soon hold a signing ceremony for the initial bilateral trade agreement.
In the meantime, India expects its oil consumption to grow at its slowest rate in the last six years amid an economic slowdown. India's consumption of petroleum products in the financial year to March 2020 is expected to rise by 1.3% to 216 million tons, petroleum ministry data showed. Diesel consumption is estimated to grow at the slowest pace in six years at 0.9%.
