Petrol Prices in India Remains Flat Despite Strong Global Crude Gains


Petrol Prices in India Remains Flat Despite Strong Global Crude Gains

The petrol prices in India remained flat despite crude edging up in the global markets amidst signs of tighter global supply. The petrol rates in India were seen trading at Rs 72.93 per litre in New Delhi, Rs 74.95 per litre in Kolkata, Rs 78.50 per litre in Mumbai and at Rs 75.69 per litre in Chennai.

In the global scenario, the crude benchmark – Brent was seen trading at $71.97 per barrel, up by 0.49% and West Texas Intermediate (WTI) was recorded at $64.07 per barrel, up by 0.31%. The decline in the shipment of crude from Saudi Arabia added with a fall in the U.S. oil inventories supported crude prices in the global markets.

The rallying equities across the globe and strong dollar kept the trading crude futures in a narrow range. The U.S. currency edged up on strong retail sales data. A mighty U.S. dollar makes crude expensive for holders of other currencies. Read More

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