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Petrol, Diesel Rates Unchanged Even As Oil Prices Rise To 5-Month High

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Fuel prices in the country were unchanged by oil marketing companies as international crude prices climb to their nearly five-month high on Tuesday.

Petrol prices per litre were stable at Rs 72.86 in New Delhi, Rs 74.88 in Kolkata, Rs 78.43 in Mumbai and Rs 75.62 in Chennai. Diesel rates were also unchanged at Rs 66.09 in New Delhi, Rs 67.83 in Kolkata, Rs 69.17 in Mumbai and Rs 69.78 in Chennai.

Petrol, Diesel Rates Unchanged Even As Oil Prices Rise To 5-Month High
 

In the international market, benchmarks for oil prices rose on positive economic data from the world's two biggest economies, that is China and the US. China's PMI for the manufacturing sector unexpectedly grew for the first time in four months during March. This eased concerns of a potential threat to oil demand.

Further, a senior Trump administration official told reporters on Monday that the US government was considering additional sanctions against Iran to target areas of its economy not yet affected.

The official also suggested that the sanction waiver offered to 8 importing countries including India may not be extended when they expire in the next month.

Brent crude gained touched $69.50 a barrel in a session earlier on Tuesday, its highest level since mid-November. US West Texas Intermediate (WTI) futures rose above $62/barrel for the first time since early November 2018.

Read more about: petrol diesel
Story first published: Tuesday, April 2, 2019, 16:05 [IST]
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