Fuel rates remain unchanged for second day in row


Mumbai,jul 18:
The oil companies kept petrol and diesel prices unchanged for the second straight day.
On Wednesday, price for petrol was Rs 76.84 per litre in Delhi, while diesel price was Rs 68.47 a litre in the national capital.
The petrol prices in other metro cities are – Rs 79.51 in Kolkata, Rs 84.22 in Mumbai and Rs 79.76 in Chennai.
One litre Diesel cost in Kolkata, Mumbai and Chennai were Rs 71.03, Rs 72.65 and Rs 72.28 respectively.
Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise rates on 1st and 16th of every month based on average international price in the previous fortnight.
The oil prices dropped on Wednesday after an industry group reported that US crude inventories rose last week, defying analyst expectations for a significant reduction, Reuters reported.
Brent futures were down 31 cents, or 0.4 per cent, at $71.85 a barrel by 0240 GMT. They rose 32 cents to $72.16 a barrel on Tuesday, after earlier touching a three-month low.US West Texas Intermediate crude was down 36 cents, or 0.5 per cent, at $67.72. It settled up 2 cents at $68.08 a barrel the session before, coming off a nearly one-month low.


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