INSUBCONTINENT EXCLUSIVE:
For the week, Brent fell 0.9 per cent, while US crude lost 3.1 per cent.Oil-marketing companies slashed the prices of petrol and diesel
across the four metro cities for the third straight day on Saturday
81.99 per litre in New Delhi, Rs
83.83 per litre in Kolkata, Rs
87.46 per litre in Mumbai and Rs
85.22 per litre in Chennai, according to Indian Oil Corporation (IOC)
75.36 per litre in New Delhi, Rs
77.21 per litre in Kolkata, Rs
79.00 per litre in Mumbai and Rs
79.69 per litre in Chennai
Petrol and diesel rates are decided on a daily basis by oil-marketing companies on the basis of the rupee-dollar rate and global crude oil
prices.(Petrol was priced at Rs
81.99 per litre in New Delhi)State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with
effect from 6 am on a daily basis
Government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.Meanwhile, all
petrol and CNG (Compressed Natural Gas) pumps in the national capital will remain closed on October 22 as Delhi Petrol Dealers Association
(DPDA) has decided to go on a strike
The strike has been called in protest against the Delhi government's refusal to cut VAT (Value Added Tax) on petrol and diesel.Globally,
oil prices rose on Friday on signs of surging demand in China, the world's second largest oil consumer, although prices were headed for a
second weekly decline on swelling US inventories and concern that trade wars were curbing economic activity, reported news agency
Reuters.Brent crude futures rose 49 cents to settle at $79.78 a barrel
West Texas Intermediate (WTI) crude futures rose 47 cents to settle at $69.12 a barrel.For the week, Brent fell 0.9 per cent, while US crude
Both contracts have fallen around $7 a barrel below four-year highs reached in early October.(With Reuters inputs)
