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%.
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.
New Delhi: According to the Petroleum Minister, Murli Deora that the government has not taken any decision to raise prices of transport fuels but will shortly hold meeting with oil companies on how to undertake the situation actuated by high global crude prices.
“We really do not want to hike the petroleum prices. But we are helpless when the international price increase like this,” Deora told.
Mr. Deora was referring to worldwide crude rates hitting the $78 a barrel in recent weeks.
New Delhi: Yesterday, the government generally suggested about a rise in petrol and diesel costs, even though it has kept retail prices unaltered. 
zoomed 11.03% to Rs 280.35 and lead gainers path in BSE's ‘A’ group shares.
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.
According to the Petroleum Minister, Murli Deora that the government has not taken any decision to raise prices of transport fuels but will shortly hold meeting with oil companies on how to undertake the situation actuated by high global crude prices. 
