Petrol and diesel prices held steady across metro cities on December 1, the latest price notification issued by fuel retailers showed.
In Delhi, petrol and diesel cost Rs 96.72 per litre and Rs 89.62 per litre, respectively. In Mumbai, petrol is being sold for Rs 106.31 a litre and diesel for Rs 94.27 a litre.
Petrol and diesel are priced at Rs 102.63 and Rs 94.24 per litre in Chennai and at Rs 106.03 and Rs 92.76 a litre in Kolkata, respectively.
Meanwhile, jet fuel prices were cut to Rs 1.17 lakh/kL from Rs 1.21 lakh/kL in Delhi.
Oil prices settled up by over $2 per barrel on Wednesday on signs of tighter supply, a weaker dollar and optimism over a Chinese demand recovery.
Brent crude futures settled up $2.40, or 2.8% to $85.43 per barrel while U.S. West Texas Intermediate (WTI) crude futures settled up $2.35, or 3.01%, to $80.55.
Also read: Price caps on oil won’t achieve much
Moreover, the OPEC+ decision to hold its December 4 meeting virtually signaled little likelihood of a policy change as the group assesses the impact of the looming Russian oil-price cap on the market. This limited further gains in oil prices.
(With inputs from Reuters)
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
