Domestic prices of petrol and diesel were kept unchanged at existing levels in metros on Saturday. Oil marketing companies such as state-run Indian Oil Corporation (IOC) currently review the domestic fuel rates on a daily basis, and implement any changes at their retail outlets with effect from 6 am. The prices of petrol and diesel in metros such as Delhi and Mumbai have been hiked around 3 per cent since a surge in crude oil prices following attacks on key Saudi Arabian oil production facilities, which roiled global markets and pushed tanker rates higher.

Industrial companies in China – the world’s second-largest economy and biggest importer of crude oil – reported a contraction in profits in August.

The rupee gained by 32 paise – or 0.45 per cent – to end at a nearly two-month high of 70.56 against the US dollar on Friday, marking a gain of 0.54 per cent (38 paise) for the week. The rupee has risen 1.20 per cent against the greenback so far this month.Read More..