Petrol, diesel prices static for 23rd successive day amid Covid-19 nationwide lockdown. Key things to know

Petrol, diesel prices static for 23rd successive day amid Covid-19 nationwide lockdown. Key things to know

New Delhi: State-run oil marketing companies have not revised the prices of petrol and diesel across the country for 23 successive days since March 16. Amid a three-week nationwide lockdown across the country to contain the spread of coronavirus, local prices of fuel remained unchanged on Wednesday (April 8). Oil prices, in the international market, slipped further as expectations that the world’s biggest producers would sign a deal to reduce output were delivered a huge blow by a worsening crude oil oversupply and the threat of a global recession.

In Delhi, a litre of petrol today costs Rs 69.59 while diesel costs Rs 62.29 litre, no change compared with Tuesday’s price. The pump prices of fuel are the cheapest in New Delhi among all metros and most state capitals due to lower taxes. Mumbai, Kolkata and Bengaluru, however, saw a rate hike varying between Re 1- Rs 1.5 on April 1 because of an increase in VAT imposed by state governments.

Rates in top cities

If you are in Chennai, you will have to pay 72.28 for a litre of petrol and Rs 65.72 for diesel, as per data available with Indian Oil Corp website. Similarly, in Kolkata, petrol and diesel are selling for Rs 73.30 a litre and Rs 65.62 litre respectively, no change in prices against Tuesday’s prices. In Bengaluru, a litre of petrol is priced at Rs 73.55 and diesel at Rs 65.96 per litre today. In Hyderabad, petrol is now retailing at Rs 73.97 a litre and diesel at Rs 67.82.

In Kolkata, a litre of petrol is priced at Rs 73.30 and diesel at Rs 65.62 per litre today. In Noida, too, petrol, diesel prices remained static at Rs 72.03 a litre and Rs 62.96 per litre, respectively. In Gurugram, petrol price and diesel prices remained steady today at Rs 70.21 a litre and Rs 62.08, respectively.

Extension of national lockdown?

Several news reports suggest that the Union government is in no hurry to lift the nationwide lockdown on April 15 as many states such as Maharashtra, Telangana, Punjab, and Madhya Pradesh have come out in support of retaining all or most of the existing curbs, mentioning that the Covid-19 threat is still looming large.

It is worth noting that Indian Railways’ catering arm Indian Rail Catering and Tourism Corporation (IRCTC) has cancelled two Tejas trains and Kashi Mahakal Express till April 30.

UAE assures additional LPG supplies

United Arab Emirates (UAE) has pledged additional supplies of LPG to help meet the Centre’s three free cooking gas cylinders to 8 crore poor families in the coming months.

Minister for Petroleum and Natural Gas Dharmendra Pradhan spoke to the UAE energy minister and Adnoc Group CEO Sultan Ahmed Al Jaber via a videoconference on Tuesday.

“At my request, Dr Jaber assured me of additional LPG supplies from @AdnocGroup to meet the free supply of three LPG refills during April-June period to over 8 crore Ujjwala (PMUY) beneficiaries as part of the economic package announced by the Government,” Oil Minister Pradhan tweeted.

Brent crude

On Wednesday, in the international market, Brent crude prices surged amid expectations of an OPEC-led meeting to discuss a reduction in output to raise prices that have plummeted amid the Covid-19 pandemic. International Brent crude oil futures were trading at USD 32.59 per barrel, up by 72 cents, or 2.8 per cent, from their last close. West Texas Intermediate (WTI) crude futures rose by USD 1.30, or 5.5 per cent, to USD 24.93 per barrel.

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