• Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
Tuesday, January 31, 2023
No Result
View All Result
SUBSCRIBE
The Outlooker
27 °c
Delhi
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
No Result
View All Result
The Outlooker
No Result
View All Result
  • National
  • Politics
  • Opinion
  • Business
  • Science
  • World
  • Health
Home Business

Petrol, diesel prices rise for first time in 2 months; vaccine hope, lockdown fear balance crude prices

by The Outlooker Web Desk
November 20, 2020
in Business
0
Petrol, diesel prices rise for first time in 2 months; vaccine hope, lockdown fear balance crude prices
1.8k
SHARES
12.9k
VIEWS
Share on FacebookShare on Twitter

While the last revision done to the petrol prices was on September 22, the diesel rates last changed on October 2.

Petrol and diesel prices today rose for the first time in nearly two months. Petrol price rose 17 paise per litre and diesel price surged 22 paise, according to the Indian Oil Corporation. With today’s increase in fuel prices, petrol is being sold at Rs 81.23 a litre while diesel is at Rs 70.68 a litre in Delhi. While the last revision done to the petrol prices was on September 22, the diesel rates last changed on October 2. Earlier in the year, retail fuel prices remained unchanged between June 30 and August 15, and March 17 and June 6.

The Oil Marketing Companies (OMCs) in India such as Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation – follow benchmark international oil price and foreign exchange rate to revise rates of petrol and diesel on a daily basis. Brent crude futures rose over 0.4 per cent at around $44.4 a barrel on Friday. The rise was a third consecutive weekly gain boosted by optimism about a coronavirus vaccine and hopes that OPEC+ will delay a planned rise in oil output. 

Also Read | India to see Rs 10,000 cr investment in LNG stations: Dharmendra Pradhan

However, in contrary, the upside remained capped and the prices did not rise much amid worries that surging covid-19 cases in the US and Europe could witness renewed restrictions and could dent demand for the fuel. Concerns about oversupply remain as Libya’s National Oil Corporation (NOC) said Libya’s oil production has rapidly returned to previous rates as it reached 1.25 million barrels per day, according to Sriram Iyer, Senior Research Analyst at Reliance Securities.  

Additionally, as Libya is currently exempt from the oil cut curbs, we could further increase in output from the nation and could weigh on sentiments, Sriram Iyer added. The next big event for oil will be the OPEC+ meeting on November 30 – December 1, where the cartel could discuss whether to maintain the current levels of output cuts or trim output, he further said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

The Outlooker is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

The Outlooker Web Desk

The Outlooker Web Desk

Next Post
Marriage Between First Cousins Illegal, States Punjab and Haryana High Court

Marriage Between First Cousins Illegal, States Punjab and Haryana High Court

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Padma Awardee Author Sudha Murty’s 4-Point Advice To Son-In-Law Rishi Sunak
National

Padma Awardee Author Sudha Murty’s 4-Point Advice To Son-In-Law Rishi Sunak

January 31, 2023
Nitish Kumar’s Sulking Aide Upendra Kushwaha Recalls A 1994 Challenge To Lalu Yadav
National

Nitish Kumar’s Sulking Aide Upendra Kushwaha Recalls A 1994 Challenge To Lalu Yadav

January 31, 2023
Virat Kohli, Anushka Sharma’s Spiritual Break In Rishikesh Ahead of Australia Test Series
National

Virat Kohli, Anushka Sharma’s Spiritual Break In Rishikesh Ahead of Australia Test Series

January 31, 2023
Seven Killed, Several Others Injured In Jeep-Trailer Truck Collision In Rajasthan
National

More Than 100 Students Fall Ill Due To Suspected Food Poisoning In Andhra Pradesh

January 30, 2023

Connect with us

No Result
View All Result

Archives

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020

Category

  • Artistic
  • Business
  • Crypto
  • Design
  • Entertainment
  • Fashion
  • featured
  • Food
  • Gaming
  • Health
  • Human
  • Lifestyle
  • Movie
  • Music
  • National
  • Opinion
  • Politics
  • Science
  • Spaces
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

Recent Posts

  • Padma Awardee Author Sudha Murty’s 4-Point Advice To Son-In-Law Rishi Sunak
  • Nitish Kumar’s Sulking Aide Upendra Kushwaha Recalls A 1994 Challenge To Lalu Yadav
  • Virat Kohli, Anushka Sharma’s Spiritual Break In Rishikesh Ahead of Australia Test Series

About Us

The Outlooker

The Outlooker is your source of authentic, hand-picked news, stories, analysis from India & the World.

  • Terms Of Service
  • Privacy Policy
  • About us
  • Submit your story
  • Contact

© 2019-2021 The Outlooker. All rights reserved.

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2019-2021 The Outlooker. All rights reserved.