Oil continue slides

Fuel prices continued to witness a slump in the national capital on Thursday, with petrol and diesel now being sold at Rs 77.28 per litre and Rs 72.09 per litre, respectively. This Fall in global crude price may ease India’s import bill and inflation.

India to buy 9 million barrels of Iranian oil in November.

Compared to Wednesday, petrol and diesel prices witnessed a decrease of 15 and 10 paise, respectively in New Delhi.In the financial capital Mumbai, petrol prices slipped to Rs 82.80 per litre (decrease by Rs 0.14) while diesel saw a fall of Rs 0.11 and is now being retailed at Rs 75.53.The rates of the fuel across India have been slashing due to the fall in the prices of crude oil.

The United States recently softened its stand on Iran’s sanctions and given nod to eight oil countries to continue to import oil from Tehran temporarily. The list includes India, China, South Korea, Japan, Turkey, Italy, the United Arab Emirates and Taiwan. — ANI

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