New Delhi: After a day's stability in diesel prices, consumers are relieved of five paise per liter on Thursday, but there is no change in the price of petrol for the second consecutive day. According to the website of Indian Oil, in Delhi, Kolkata, Mumbai, and Chennai. The price of diesel has been reduced by 5 paise to Rs 64.82, Rs 67.14, Rs 67.93 and Rs 68.45 per liter respectively. A day ago, the oil companies did not change the price of diesel.
The price of petrol remained constant for the second day. Petrol price in Delhi, Kolkata, Mumbai and Chennai remained at Rs 71.94, Rs 74.58, Rs 77.60 and Rs 74.73 per liter respectively without any change. The price of crude oil in the global market has been steadily rising for 3 consecutive days. In these 3 days, the price of benchmark crude oil Brent crude has increased by about 3 dollars per barrel. The rise in crude oil is expected as OPEC and its partner Russia, a group of oil-producing countries, are going to cut oil production extra.
Market experts say that the possibility of a decrease in the demand for crude oil due to the havoc of coronavirus in China, will not remain after the reduction in production or supply of oil. Market experts say that this is the reason why there is a strong trend in the prices of crude oil. Brent crude's April delivery contract closed at $ 53.27 a barrel on February 10, which rose above $ 56 a barrel on Thursday.