Petrol, diesel rates on Nov 7: Prices constant in Delhi, Mumbai, Kolkata, Chennai; some cities see minor revision

Petrol and diesel prices on November 7: Indian oil marketing companies have kept the petrol and diesel prices constant in New Delhi, Kolkata, Mumbai, and Chennai on Thursday, September 7. There were minor tweaks in Noida, Lucknow, Ghaziabad, Patna and others.  

In Delhi, petrol price stands at Rs 96.72 per litre, while diesel is being sold at Rs 89.62 per litre. In Mumbai, petrol is being sold for Rs 106.31 per litre, while diesel is available for Rs 94.27 per litre.  

In Kolkata, the cost of petrol is Rs 106.03 per litre inclusive of taxes, diesel is available for Rs 92.76 per litre with taxes. In Chennai, petrol is available at Rs 102.63 per liter, while diesel can be obtained at Rs 94.24 per liter.

Fuel prices were revised in Chhattisgarh, Jharkhand, Haryana, Uttar Pradesh, Punjab, West Bengal, Jammu and Kashmir, Himachal Pradesh and Rajasthan. The petrol and diesel price were increased by 50 paise and 49 paise, respectively. The prices were revised upwards by 26 paise in in Jharkhand.

In West Bengal, petrol price has gone down by 46 paise and diesel by 43 paise. Petrol has become cheaper by 36 paise and diesel by 34 paise in Punjab. The prices of petrol and diesel have also decreased in Jammu and Kashmir, Himachal and Rajasthan.

Here is the fresh price chart for major cities:

Bengaluru     

Petrol: Rs 101.94     

Diesel: Rs 87.89 

Chandigarh     

Petrol: Rs 98.65     

Diesel: Rs 90.05 

Chennai    

Petrol: Rs 102.86     

Diesel: Rs 94.46 

Gurugram     

Petrol: Rs 96.71     

Diesel: Rs 89.59 

Kolkata     

Petrol: Rs 106.03     

Diesel: Rs 92.76 

Lucknow     

Petrol: Rs 96.47     

Diesel: Rs 89.72 

Mumbai    

Petrol: Rs 106.31   

Diesel: Rs 94.27 

New Delhi     

Petrol: Rs 96.72     

Diesel: Rs 89.62 

Noida  (Gautam Buddha Nagar)   

Petrol: Rs 97.00     

Diesel: Rs 89.76    

Ghaziabad

Petrol: Rs 96.58

Diesel: Rs 89.75

Public sector Oil Marketing Companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their petrol and diesel prices in line with international benchmark prices and forex rates. Before 2021, the prices were revised every 15 days.

Crude oil

Oil prices eased on Tuesday falling from the gains from the previous day, on concerns over weak demand in China. On Monday, oil prices edged higher after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year.  
Brent crude futures fell 23 cents, or 0.3 per cent, to $84.95 a barrel while US West Texas Intermediate crude was at $80.59 a barrel, down 23 cents, or 0.3 per cent. On Monday,  Brent crude futures was at $85.18 a barrel, while US West Texas Intermediate crude was at $80.82.

Hedge funds and other money managers sold the equivalent of 73 million barrels in the six most important petroleum futures and options contracts over the seven days ending on October 31, Reuters reported.

Fund managers have sold petroleum in five of the last six weeks reducing their position by a total of 274 million barrels since Sept. 19. The wave of sales has reversed much of the 398 million barrels purchased between the end of June and the middle of September.