On October 14, 2024, oil prices fell by $1 per barrel due to rising concerns over potential decreases in demand from China. Brent crude futures decreased by 1.32%, settling at $78.00 per barrel, while US West Texas Intermediate crude futures dropped by 1.3%, closing at $74.58 per barrel.
In India, Hyderabad recorded the highest petrol prices among major metropolitan areas, with petrol priced at ₹107.41 per litre and diesel at ₹95.65 per litre. Additionally, petrol prices have exceeded ₹100 per litre in cities including Mumbai, Nagpur, Bangalore, Thiruvananthapuram, Bhopal, and Kolkata.
According to Rahul Kalantri, vice president of commodities at Mehta Equities Ltd, “We expect crude oil prices to remain volatile during today’s trading session. Crude oil is currently supported at $73.10-$72.50, with resistance at $74.20-$75.00. In Indian Rupees, crude oil has support at ₹6,280-₹6,210 and resistance at ₹6,420-₹6,480.”
Current Petrol and Diesel Prices in Major Cities (October 14, 2024)
Mumbai: Petrol: ₹103.44, Diesel: ₹88.97
Lucknow: Petrol: ₹94.56, Diesel: ₹87.66
Nagpur: Petrol: ₹103.96, Diesel: ₹90.52
Bangalore: Petrol: ₹102.86, Diesel: ₹88.94
Thiruvananthapuram: Petrol: ₹107.56, Diesel: ₹96.43
Ranchi: Petrol: ₹97.81, Diesel: ₹92.56
Gurgaon: Petrol: ₹94.90, Diesel: ₹87.76
Bhopal: Petrol: ₹106.47, Diesel: ₹91.84
Kolkata: Petrol: ₹104.95, Diesel: ₹91.76
Hyderabad: Petrol: ₹107.41, Diesel: ₹95.65
New Delhi: Petrol: ₹94.72, Diesel: ₹87.62
Jammu: Petrol: ₹95.59, Diesel: ₹81.42
The fluctuations in oil prices continue to be influenced by market dynamics and global economic indicators, particularly from key consumer countries like China.
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