Petrol and diesel prices held steady across metro cities on January 30, the latest price notification issued by fuel retailers showed. Petrol and diesel in Delhi cost Rs 96.72 and Rs 89.62 per litre. 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/litre and Rs 94.24/litre respectively in Chennai and at Rs 106.03/litre and Rs 92.76/litre in Kolkata, respectively.
In other news, oil prices settled lower on January 27, making their weekly finish flat to lower, as indications of strong Russian oil supply offset better-than-expected United States economic growth data, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand.
Brent futures settled down 81 cents, or 0.9 percent, at $86.66 per barrel, up just 3 cents from last week's settlement. US crude fell $1.33, or 1.6 percent, to settle at $79.68, 2 percent lower on the week.
Oil loadings from Russia's Baltic ports are set to rise by 50 percent this month from December as sellers try to meet strong demand in Asia and benefit from rising global energy prices, traders said and Reuters calculations showed.
Urals and KEBCO crude oil loadings from Ust-Luga over February 1-10 may rise to 1.0 million tonnes from 0.9 million in the plan for the same period of January, traders also.
"If Russian supply remains strong heading into next month, oil is probably going to continue to trend lower," said John Kilduff, partner at Again Capital LLC in New York.
He added that profit taking ahead of the weekend may also have driven prices lower.
US energy firms this week kept oil and natural gas rigs steady at 771, energy services firm Baker Hughes Co BKR.O said in its closely followed report on Friday.
Meanwhile, OPEC+ delegates meet next week to review crude production levels, with sources from the oil producer group expecting no change to current output policy.
The US Federal Reserve's next decision on interest rates will be made at meeting over January 31 and February 1 against a backdrop of a dip in inflation and gross domestic product that grew by a faster than expected 2.9 percent in the fourth quarter.
(With inputs from Reuters)
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