NEW DELHI : With crude oil rates extending losses after the biggest decline in three weeks, petrol price was left unchanged for six consecutive days while the price of diesel went up once again for the fifth straight day today. State-run fuel retailers increased the price of diesel by 20 paise today.

In New Delhi, a litre of petrol costs ₹74.63 while diesel is priced at ₹66.94. In Mumbai, you have to pay ₹80.29 for a litre of petrol and ₹70.23 for diesel. In Bengaluru, petrol is priced at ₹77.18 a litre and diesel is selling at ₹69.22. In Chennai, a litre of petrol is charged at ₹77.58 and diesel costs ₹70.77.

Petrol and diesel prices are revised daily by oil marketing companies based on average price of fuel in previous fortnight.

Meanwhile, the government is said to be considering a proposal to allow fuel retailers charge a premium on retail prices of petrol and diesel to recover their investment in upgrading their refineries to produce BS Stage-VI fuel.

If this proposal is accepted by the government, retail prices of petrol and diesel would come at a premium of about ₹0.80 a litre and ₹1.50 a litre, respectively for the next five years much to the discomfort of consumers.





In the international market, oil extended losses after the biggest decline in three weeks as Kuwait signaled a deal with Saudi Arabia to renew crude output along their border and as US shale explorers increased drilling. Brent crude was down 16 cents, or 0.2%, at $65.98 a barrel by 0730 GMT. West Texas Intermediate was down 22 cents, or 0.4%, at $60.22 a barrel.

Oil is up about 9% this month after the US and China struck a preliminary trade pact and the Organization of Petroleum Exporting Countries (OPEC) and its allies agreed to deepen output cuts.

The benchmark crude, Brent has become nearly six-dollar costlier so far in December, however, the most active contract of Brent crude closed at 66.04 dollars per barrel on Friday, 0.75 per cent lower from the previous session.

Prices are still ruling nearly three-month high. Crude prices jumped to $71.95 per barrel on September 16 amid supply concern after the drone attacks on the facilities of Saudi Aramco, one of the major oil companies of the world.

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