Petrol and diesel prices held steady across metro cities on November 25, 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.
Oil inches up amid wrangling over Russian oil price cap
Oil rose in early trade on Friday, trimming some of the week's losses which have been driven by worries about Chinese demand and expectations a high price cap planned by the Group of Seven (G7) nations on Russian oil will keep supply flowing.
Brent crude futures inched up 13 cents, or 0.2%, to trade at $85.47 a barrel at 0121 GMT.
Petrol & Diesel Rates Today
U.S. West Texas Intermediate (WTI) crude futures jumped 35 cents, or 0.5%, from Wednesday's close to $78.32 a barrel. There was no WTI settlement on Thursday due to the U.S. Thanksgiving holiday.
Russian President Vladimir Putin has said Moscow will not supply oil and gas to any countries that join in imposing the price cap, which the Kremlin reiterated on Thursday.
Reports suggest there are signs that a surge in COVID-19 cases in China, the world's top oil importer, is starting to hit fuel demand, with traffic drifting down and implied oil demand around 13 million barrels per day, or 1 million bpd lower than average.
"This remains a headwind for oil demand that, combined with weakness in the U.S. dollar, is creating a negative backdrop for oil prices," ANZ said in a separate commodity note.Trading is expected to remain cautious ahead of an agreement on the price cap, due to come into effect on Dec. 5 when an EU ban on Russian crude kicks off, and ahead of the next meeting of the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, on Dec. 4.