Brent crude hits a month low, but petrol, diesel prices remain steady
Brent crude oil price has fallen 9.2% in the last two days to $78.01 per barrel, the lowest level since December 12, 2022.
Brent crude oil price has fallen 9.2% in the last two days to $78.01 per barrel, the lowest level since December 12, 2022.
After surging by about 60% in 2022, energy prices are projected to decline 11% in 2023 amid concerns of an impending global recession, the World Bank says in a report.
The Sensex and Nifty are poised to open on a muted note on Tuesday, tracking mixed cues from global peers and weak trends on SGX Nifty.
ICICI Securities has downgraded state-owned oil retailer HPCL to “REDUCE” from “ADD”, BPCL to “ADD” (from “BUY”), while it retained “BUY” call on IOCL.
Petrol, diesel price today: Petrol in Mumbai will now cost ₹115.88 per litre, while diesel rates shot up to ₹101.10 a litre.
The government is committed to use the deploy strategic petroleum reserves to contain market volatility, says the finance ministry.
Brent crude – the international benchmark – is trading above the $130 per barrel mark.
Shares of airline companies IndiGo and SpiceJet fell up to 3% in the opening after jet fuel prices were hiked by 3.3% to all-time high levels on Tuesday.