Diesel prices fall to lowest this fiscal year;Petrol Price Hiked By 10 Paise

Petrol, diesel prices today: The oil marketing companies (OMCs) on Saturday increased prices of petrol by 5 paise while cutting diesel by 7 paise on account on fall in global crude oil rates. Petrol can today be availed for Rs 70.34 per litre in Delhi and diesel for Rs 64.50. In Mumbai, petrol is selling for Rs 75.96 per litre and diesel 67.50 per litre today.

On Friday, petrol was selling at Rs 70.29 in Delhi, Rs 72.38 in Kolkata, Rs 75.91 in Mumbai and Rs 72.94 in Chennai. Diesel was available for Rs 64.57 in New Delhi, selling at the lowest level in Delhi since the start of this fiscal year. Diesel was selling at Rs 66.33 in Kolkata, Rs 67.58 in Mumbai and Rs 68.18 in Chennai yesterday. Petrol and diesel prices are dependent on international prices of crude and the rupee-US dollar exchange rate as India imports bulk of its oil requirement through imports.

Since October, global oil prices have tumbled nearly 30% amid concerns over oversupply and worries on global growth. Currently, Brent crude currently trades near $61 a barrel,far lower than October highs of $86. The rupee has also rebounded to around 71.80 a dollar, pulling back from October lows of 74.48.

Crude oil prices -

Oil prices eased on Friday after rising over 2 percent the day before, but were supported by hopes the market will tighten more quickly than some had expected in the wake of supply cuts from major producers. The output curbs by the Organisation of the Petroleum Exporting Countries and some non-OPEC producers including Russia could help create a supply deficit by the second quarter of next year, Reuters reported citing the International Energy Agency.

Comments

Stock Market News - Trade war worries kept base metal prices under pressure in 2019

The trade deal developments and its impact on the global economy remain the trendsetter of commodity prices in 2020. A successful deal will boost global economic activity and improve the demand for base metals. In the past year, trade uncertainty hit global economic sentiments adversely as base metal prices in the domestic futures market settled with moderate gains. Commodities such as copper and lead ended with gains of 8 percent, while aluminium and zinc advanced 6 percent and 4 percent, respectively. Performance of nickel was exceptional with a whopping gain of more than 40 percent. At the same time, price-performance at its key overseas markets was rather steady. Trade war worries that fanned fears of recession roiled the global manufacturing sector last year, particularly China. This because Chinese industries are the key consumers of all base metals. Economic growth in the country tumbled to multi-year lows due to the 17-month trade dispute between the United Sta...

Stock Market News - Yes, Bank top gainer, Ratnamani Metals Gains

Titan Company shares climb 2%: Shares of Titan Company climbed over 2 percent on BSE ahead of analyst and institutional investor meeting on December 20. Rupee Update: The Indian rupee recovered from the lows but trading marginally lower at 71.06 per dollar. NEWS ALERT | 1. Hold it against PSBs that they haven't passed the benefits of rate cuts to customers: FM -- Made sure stressed MSMEs are not declared NPAs: FM 2. PSBs must move more liquidity out in the system: FM -- Together with banks and RBI, we looked at where liquidity was stuck: FM 3. Anish Shah appointed CFO of Mahindra & Mahindra till April 2021: BSE Filing -- Shah will become MD & CEO of co for 3 years w.e.f April 2, 2021. -- VS Parthasarathy will step down as CFO on April 1, 2020 -- Board approves transition of Anand Mahindra's role to Non-executive Chairman. -- Pawan Goenka re-designated MD & CEO up to November 11, 2020 TOP GAINERS & LOSERS...

Stock Market News - Yellow metal hits fresh record high as Iran attacks US forces

On the MCX, gold contracts for February were trading higher by Rs 562, or 1.38 percent, at Rs 41,225 per 10 gram at 0920 hours. It hit a record high of 42,278 per 10 gm. India Gold February futures hit a fresh record high on January 8 tracking gains in international spot prices which surged past $1,600 an ounce mark after Iran fired rockets at Iraqi airbase which hosts US forces that triggered risk-off sentiment. Spot prices hit their highest since March 2013 at $1,610.90 earlier in the session. US gold futures rose 2 percent to $1,605.80. “The jump in the price of what’s viewed by investors as a safer asset in times of political and economic uncertainty came after Iran’s missile attack on US-led forces in Iraq early on Wednesday,” said a Reuters report. “The attack came hours after the funeral of an Iranian commander whose killing in a US drone strike has raised fears of a wider conflict in the Middle-East,” it said. On the MCX, gold contracts for February were trading...

Market Daddy | Share Bazar Live | Share Market News

Search This Blog