
Petrol and diesel prices on November 22: Petrol and diesel rates were kept constant across all major cities on Friday, September 29. The rates of petrol and diesel have been on the same level over the last one year following a major revision in rates on May 21, 2022. Union Finance Minister Nirmala Sitharaman, in a welcome move, cut the excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. Since then, the prices have seen minor ups and downs in some states.
On Wednesday, November 22, the price of petrol in Delhi is Rs 96.72 per litre, while diesel is being sold at Rs 89.62 per litre.
In Mumbai, the petrol prices touched Rs 106.31 per litre, which is the highest among all the metropolitan cities. The diesel rate is Rs 94.27 per litre.
In Kolkata, the cost of petrol is Rs 106.31 per litre, with diesel priced at Rs 92.76 per liter.
In Chennai, petrol is available for Rs 102.63 per litre, and diesel is Rs 94.24 per litre.
There were minor price fluctuations in some states, such as Punjab, Rajasthan, Karnataka, Kerala and Bihar as the prices of petrol and diesel change from state to state as the prices are inclusive of levies, such as Value Added Tax (VAT), freight charges, local taxes, etc.
The price of petrol was increased by 27 paise and diesel was increased by 25 paise in Punjab. The fuel prices were also revised upwards in Uttar Pradesh. The prices of petrol and diesel have increased by 25 paise each in UP. In West Bengal, petrol price was increased by 44 paise and diesel was surged by 41 paise.
Besides, the prices of petrol and diesel have also increased in Rajasthan, Karnataka, Kerala and Bihar. The prices were deducted in Madhya Pradesh, Goa and Maharashtra.
Revised fuel rates
Petrol: Rs 101.94
Diesel: Rs 87.89
Petrol: Rs 98.65
Diesel: Rs 90.05
Petrol: Rs 102.86
Diesel: Rs 94.46
Petrol: Rs 96.71
Diesel: Rs 89.59
Petrol: Rs 106.03
Diesel: Rs 92.76
Petrol: Rs 96.47
Diesel: Rs 89.72
Petrol: Rs 106.31
Diesel: Rs 94.27
Petrol: Rs 96.72
Diesel: Rs 89.62
Noida (Gautam Buddha Nagar)
Petrol: Rs 96.73
Diesel: Rs 89.91
Petrol: Rs 96.34
Diesel: Rs 89.53
Crude oil
Oil prices were largely unchanged in Asian trade on Wednesday ahead of build-up of US crude cancelled out gains triggered by likely supply cuts from the OPEC+ producers group. Brent crude futures rose 11 cents, or 0.1 per cent, to $82.56 a barrel by 0004 GMT. US West Texas Intermediate crude futures rose 14 cents, or 0.2 per cent, to $77.91, Reuters reported.
Both benchmarks have fallen for four straight weeks, and investors remained cautious ahead of Sunday's scheduled OPEC+ meeting, when the producer group may discuss deepening supply cuts due to slowing global economic growth.
Crude oil exhibited significant volatility, experiencing a decline from its peak levels influenced by discouraging U.S. existing home sales data and the minutes from the Federal Reserve meeting. October witnessed a 4.0 per cent decrease in US existing home sales, and the Federal Reserve signalled a commitment to maintaining higher interest rates for an extended period, thereby constraining the upward momentum of crude oil.
"Traders are exercising caution in anticipation of the upcoming OPEC+ meeting scheduled for next week, as any announcements regarding an extension or deepening of output cuts could act as a catalyst for supporting crude oil prices. We anticipate continued volatility in today's trading session for crude oil. The support level is identified at $76.70–76.00, with resistance observed at $78.40-79.10. In terms of INR, crude oil finds support at Rs 6,370-6,290 and faces resistance at Rs 6,555-6,640," said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
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