Diesel price today maintains status quo as global crude slips over trade war fears

Like petrol prices in India, the state-owned oil companies kept diesel prices unchanged on Wednesday, as this product was valued at Rs 62.96 per litre in New Delhi, Rs 65.65 per litre in Kolkata, Rs 67.05 per litre in Mumbai and Rs 67.05 perl litre in Chennai. The
prices were the same as previous day on March 6. 
 
Diesel on Wednesday in other state capital like Bangalore was at Rs 64.02 per litre, Bhopal at Rs 66.50 per litre, Bhubaneswar at Rs 67.54 per litre, Chandigarh at Rs 61.12 per litre, Dehradun at Rs 63.58 per litre, Gandhinagar at Rs 67.87 per litre, Hyderabad at Rs 68.40 per litre, Jaipur at Rs 67.43 per litre, Lucknow at Rs 63.42 per litre, Patna at Rs 67.54 per litre, Raipur at Rs 68.02 per litre and Srinagar at Rs 66.29 per litre. 
 
Meanwhile, Brent futures down 51 cents, or 0.8%, from their previous close at $65.28 per barrel at 0414 GMT. Also, US West Texas Intermediate (WTI) crude futures were at $62.13 a barrel, down 47 cents, or 0.75%. 
 
According to a Reuters report, plunge in oil prices were due to weaker stock markets after a key advocate for free trade in the US government resigned, stoking concerns Washington will go ahead with import tariffs and risk a trade war.
 
Currently, diesel prices in India is derived taking into consideration the Indian basket of international crude oil, involving state taxes like Value Added Tax (VAT), excise duty and other charges.