Petrol prices at lowest level in 2018 at Rs 69.74 today, diesel also becomes cheaper

Petrol, Diesel prices: The price of petrol today fell to the lowest level in 2018, while prices of diesel also dropped to the lowest level since April. After revision of prices of both the products today, petrol in Delhi is priced at Rs 69.74 (it was priced Rs 69.79 yesterday),  while diesel price fell by 7 paise per litre to Rs 63.76 (it was priced at Rs 63.83 on Wednesday). 

In Mumbai, petrol is priced at Rs 75.36 per litre, against Rs 75.41 yesterday, while diesel is available at Rs 66.72 per litre, compared to Rs 66.79 yesterday. In other metros cities of Chennai and Kolkata, petrol is today priced at Rs 72.36 and Rs 71.84 respectively, while diesel is available at Rs 67.31 and Rs 65.51 respectively.

With today's price correction, reduction in petrol prices has given much relief to consumers in the wake of downtrend witnessed in global crude prices. 

US oil prices on Thursday extended their sharp climb from the session before amid rising stock markets, but worries over a glut in crude supply and concerns over a faltering global economy kept a lid on gains, said a Reuters report.

Earlier on Wednesday, global stocks rebounded on the back of the Trump administration`s attempt to shore up investor confidence and a report on strong US holiday spending. However, both crude benchmarks are reportedly down roughly 40 percent from highs in October, pressured by concerns about oversupply and over the outlook for the global economy.

Meanwhile, key Indian equity market indices today opened higher ahead of derivatives expiry, taking a cue from global markets. The Sensitive Index (Sensex) of the BSE, which had closed at 35,649.94 points yesterday, opened higher at 36,002.11 points.

At the National Stock Exchange (NSE), which had closed at 10,729.85 points yesterday, was quoting at 10,816.65 points, up by 86.80 points or 0.81 per cent.