Petrol, Diesel Price 22-02-2021 – Fuel prices remain unchanged on Monday; Expert tells money making strategy on Oil futures
In a much-needed relief for the consumers, the petrol and diesel prices remained unchanged for the second straight day. Want to know the diesel and petrol prices and if they have increased and by how much? Read here to know more. Are you worried about the fluctuations in the fuel prices and want to buy it when the prices are down? You can do it whenever you are planning to step out to refill your tank. Get prices of petrol and diesel on a day-to-day basis.
Daily price changes for Petrol and Diesel are effected at 6 am every day.
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You can check Petrol and Diesel price by sending SMS to 92249 92249. SMS "RSP <space>Dealer Code of Petrol Pump”. You can find the dealer code from IOCL website.
See Petrol, Diesel Prices in metro cities
DELHI – On Monday, Petrol price was at 90.58 while the Diesel Price was at Rs 80.97.
MUMBAI - Petrol price was at 97 while the Diesel Price was at Rs 88.06.
KOLKATA - Petrol price was at 91.78 while the Diesel Price was at Rs 84.56.
CHENNAI - Petrol price was at 92.59 on Sunday while the Diesel Price was up Rs 85.98.
Petrol, Diesel Price – There is unlikely to be any respite to the common man as crude oil prices are only rising by the day. Anuj Gupta, Senior Technical Analyst at Angel Broking and Commodity and Forex market expert said that the upwards trend will only continue in the near to medium term and the spike may create inflationary pressure on prices of various goods.
Crude Oil - Money Making strategy
Gupta said that Brent Crude is trading at USD 62.72 and WTI Crude is 59.80. While the former is expected to reach a target price of USD 65, the latter could USD 63 over a 1-week period.
After being severely hit during the lockdown because of the Coronavirus pandemic, the crude oil prices are now seeing significant recovery and the trend looks positive in the near to medium term, Gupta said.
At 11:50 am, the MCX March Crude oil futures were trading at Rs 4363 per BBL, up by Rs 59 or 1.4 per cent from the previous close on Friday. He recommended a Buy on Crude Oil futures at Rs 4280. He puts the stop loss at Rs 4220 while the target price at Rs 4380.
The increase in price of crude oil will further increase the fuel bill of the consumers.
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