Oil Marketing Companies (OMCs) have not changed fuel prices today. Petrol and diesel continue to retail at the prevailing prices in major cities across India.
In Delhi, petrol costs Rs 96.72 per litre while diesel is selling at rs 89.62 a litre. In Mumbai, petrol is retailing at Rs 106.31 while diesel prices are Rs 94.27.
In Chennai, prices of petrol and diesel stood at Rs 102.63/litre and Rs 94.24/litre, respectively, while in Kolkata both fuels are priced at Rs 106.03/litre and Rs 92.76/litre, respectively.
Oil prices are edging up on account of the OPEC+ decision to cut production. Analysts fear that Indian OMCs could stare at losses if the crude oil simmers and reaches $100 a barrel.
Brent crude futures rose 17 cents, or 0.2%, to $86.26 per barrel by 0035 GMT. West Texas Intermediate crude futures (WTI) rose 20 cents, or 0.2%, to $82.36 a barrel.
Lower expected Russian output is supporting the firmness in crude oil prices.
Investors will keenly parse the IEA's monthly monthly oil market outlook for signs of faltering demand due to slowdown fears.
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