New Delhi: Yesterday, Finance Minister P Chida

Oil prices came up to USD 77 per barrel, nearing an record high on July 27, on buying supported by news of faster-than-expected economic development.

But, retail gas prices fell to their lowest level since late May.

Light, sweet crude for September delivery climbed up USD 2.07 to USD 77.02 per barrel on the NYMEX.

The gasoline rates for next month delivery grew 2.58 cents to USD 2.1017 per gallon after decreasing earlier. Gasoline futures finished the week 6.26 cents, lower by 2.9%.

New Delhi: Yesterday, the government generally suggested about a rise in petrol and diesel costs, even though it has kept retail prices unaltered.

Petroleum Minister, Murli Deora told, “We are trying very hard to see that prices are not increased, (but) I cannot say if they will never be raised.”

Castrol India zoomed 11.03% to Rs 280.35 and lead gainers path in BSE's ‘A’ group shares.

Oil prices dangled on Monday (July 23) as exports to Angolan oil facility commenced once more and on expectancy that US gasoline demand will decrease in place with the end of peak summer demand.

Reliance Energy recorded a 25.45% enhancement in net profit to Rs 2,215.60 million for the quarter ended June 2007 from Rs 1,766.10 million in the corresponding period ended June 2006.