Fuel Prices on November 23: Check petrol, diesel rates in Delhi, Mumbai and other cities

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Petrol and diesel prices held steady across metro cities on November 23, 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/litre and diesel for Rs 94.27/litre. Petrol and diesel are priced at Rs 102.63/litre and Rs 94.24/litre in Chennai and at Rs 106.03/litre and Rs 92.76/litre in Kolkata, respectively.

Oil prices climb on big drop in US crude stocks, Russia supply uncertainty

Oil prices rose in early trade on Wednesday after industry data showed US crude stockpiles fell more sharply than expected last week, highlighting supply tightness ahead of a looming European Union ban and G7 price cap on Russian oil.

Brent crude futures gained 25 cents, or 0.3 percent, to $88.61 a barrel at 0101 GMT, while US West Texas Intermediate (WTI) crude futures rose 35 cents, or 0.4 percent, to $81.30 a barrel.

Both benchmark contracts rose about 1 percent in the previous session as the United Arab Emirates, Kuwait, Iraq and Algeria reinforced comments from Saudi Arabia's energy minister that the Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, were not considering boosting oil output. OPEC+ next meets to review output on December 4.

Treasury releases more details of Russian oil price cap plan

The Treasury Department released new details Tuesday of its long-awaited plan to impose a price cap on Russian oil, but the US and its allies are still finalizing how much they'll pay for petroleum exports that have helped fund the war in Ukraine.

The new guidance is meant to help firms and maritime insurers understand how to abide by the price ceiling, according to a senior Treasury official who discussed the plans on a call with reporters on condition of anonymity.

The official said the plan allows the US and its allies to reduce Russia's revenues while keeping oil on the market. The latest guidance defines what constitutes Russian oil and when the cap applies and states that the price cap could change depending on market conditions.