2020-07-05 10:07:00

NEW DELHI :
Petrol and diesel prices were left unchanged for the sixth consecutive day today. Earlier for about three weeks beginning June 7, the price of petrol was increased by 9.17 a litre and that of diesel by 11.14 a litre. As petrol price remains on a 19-month high and diesel at lifetime high in Delhi, political protests against the hike continues in several parts of India.

Latest petrol, diesel prices in top cities:

New Delhi: Petrol 80.43. Diesel 80.53

Gurgaon: Petrol 78.65. Diesel 72.81

Mumbai: Petrol 87.21. Diesel 78.95

Chennai: Petrol 83.67. Diesel 77.78

Hyderabad: Petrol 83.48. Diesel 78.70

Bengaluru: Petrol 83.04. Diesel 76.59

Petrol and diesel prices are dependent on international benchmark rates of the two auto fuels, forex rates and the cost of Indian basket of crude oil. With the recovery of global energy demand as Covid related restrictions ease in several countries, Brent crude oil rates went up by around 4% last week but ended below the $43 a barrel mark.

Signs of economic recovery, and a drop in supply after a record supply cut by the Organisation of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, have helped Brent more than double from a 21-year low below $16 reached in April.

In India, the demand for petroleum products, which had in April fallen to the lowest since 2007, due to the coronavirus-induced lockdown, has reached 88% of pre-COVID-19 levels.

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