In global markets, gold prices had hit a new high by rising above the psychological $2,000 mark. Analysts said a weaker dollar, expectations of more stimulus and rising coronavirus cases boosted the safe-haven demand of gold.
Clarifying on the November 2019 liberalised fuel licensing regime, the Ministry of Petroleum and Natural Gas said any entity with a net worth of Rs 250 crore can get a licence to retail petrol and diesel to either bulk or retail consumers.
Overall gold demand in the country was 213.2 tonnes during the second quarter of 2019, WGC said in its 'Q2 Gold Demand Trends' report.
Petrol Price Today: Separately, the survey also claimed that average Indian can buy 434 litres of petrol with their pay. This is based on the average salary of Rs 32,603
Total crude oil processing in India for the June quarter was down 22.3 per cent at 48.6 MMT, as against 62.8 MMT in the year-ago period, and 20.2 per cent below the processing target for the quarter.
Brent crude fell 25 cents to $43.06 a barrel by 0713 GMT, and US West Texas Intermediate (WTI) crude eased 28 cents to $40.79.
Standard gold on Wednesday rose to hit a record high of Rs 50,000 per 10 gram in Mumbai, reflecting firmness in the international market.
Local gold futures reached an all-time high of 49,996 rupees ($670.32) per 10 grams in early trade, taking their gains to 28% in 2020 after rising a quarter in 2019.
Brent crude was down 25 cents, or 0.6%, at $42.89 a barrel by 0353 GMT, after dropping slightly last week. US oil was off by 22 cents, or 0.5%, at $40.37 a barrel, after gaining 4 cents last week.
Aviation Turbine Fuel (ATF) price was hiked by Rs 635.47 per kilolitre (kl), or 1.5 per cent, to Rs 42,628.28 per kl in the national capital, according to a price notification by state-owned oil marketing companies.
In value terms, the edible oil shipments increased 52.36 per cent to Rs 955.51 crore, against 52,490 tonnes valued at Rs 627.11 crore in 2018-19, trade body SEA said in a statement.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, agreed on Wednesday to scale back oil production cuts from August as the global economy slowly recovers from the coronavirus pandemic.
Cotton and groundnut are the two most important and most widely cultivated cash crops of Gujarat, mostly in Saurashtra region.
MCX had a successful potato futures contract, few years ago, but it lost liquidity over a period of time due to which Forward Markets Commission, then regulator of the commodity derivatives market, asked MCX to stop trade in the contract in September 2014.
Brent crude futures were up 19 cents, or 0.4%, at $43.09 a barrel as of 0343 GMT, and US West Texas Intermediate (WTI) crude futures rose 17 cents, or 0.4%, to $40.46 a barrel.
The AAR, in its ruling, said since hand sanitisers manufactured by the applicant are of the category of 'alcohol-based hand sanitisers', a 18 per cent GST would be applicable.
Spot gold was up 0.5% at $1,807.16 per ounce by 0731 GMT. US gold futures rose 0.5% to $1,811.10.
Petroleum product consumption rose 11 per cent to 16.28 million tonnes in June over demand witnessed in the previous month, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum and Natural Gas.
Tomato was available at Rs 70 per kg in Gurgaon, Gangtok, Siliguri and Raipur, while at Rs 80 per kg in Gorakhpur, Kota and Dimapur.
Gem and Jewellery Export Promotion Council (GJEPC) also requested for a clarification on 'Online Equalisation' Levy for B2B international diamond auctions.
Brent crude futures fell 10 cents, or 0.2%, to $42.98 a barrel by 0417 GMT. US West Texas Intermediate (WTI) crude futures dropped 12 cents, or 0.3%, to $40.50 a barrel, holding to the narrow range of the past few weeks.
Diesel price on Tuesday was increased by 25 paise per litre, according to a price notification of state-owned oil marketing companies. This took the retail selling price of diesel to Rs 80.78 per litre in the national capital - the highest ever.
Spot gold was up 0.1% to $1,776.29 per ounce by 0709 GMT. US gold futures fell 0.3% to $1,785.
Spot gold was little changed at $1,774.18 per ounce by 0456 GMT. US markets are closed on Friday for observing Independence Day on July 4. US gold futures eased 0.2% to $1,786.50.
Aviation turbine fuel (ATF) price was hiked by Rs 2,922.94 per kilolitre (kl), or 7.48 per cent, to Rs 41,992.81 per kl in the national capital, according to a price notification by state-owned oil marketing companies.