Petrol, diesel rates on November 16: Prices constant in Delhi, Mumbai, Kolkata, Chennai; some cities see minor revision

Petrol and diesel prices on November 16: Indian oil marketing companies have kept the petrol and diesel prices unchanged in New Delhi, Kolkata, Mumbai, and Chennai on Thursday, November 16. There were minor tweaks in Rajasthan, Uttar Pradesh and Telangana.

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 106.31 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.

Price revision

There was price revision in some states, such as Gujarat, Chhattisgrah, Rajasthan, Telangana and Uttar Pradesh.

In Gujarat, petrol prices went up by 63 paise and diesel by 64 paise. In Rajasthan, petrol has become costlier by 38 paise and diesel by 34 paise. In Chhattisgarh, petrol prices shot up by 44 paise and diesel by 43 paise.

Fuel prices got cheaper in Himachal Pradesh and Bihar. Petrol has become cheaper by 33 paise and diesel by 31 paise in Himachal Pradesh. Even in Bihar, petrol is being sold at 36 paise and diesel at 33 paise. Fuel prices have also decreased in Uttar Pradesh.

Here is the fresh price chart for major cities:

In Noida, petrol has become Rs 96.92 and diesel Rs 90.08.
In Gurugram, petrol is being sold at Rs 96.97 and diesel at Rs 89.84 per litre.
In Hyderabad: Petrol Rs 109.66 and diesel Rs 97.82 per liter
In Chandigarh: Petrol Rs 96.20 and diesel Rs 84.26 per liter
In Bengaluru: Petrol Rs 101.94 and diesel Rs 87.89 per liter
In Lucknow, petrol has become Rs 96.48 and diesel Rs 89.67 per litre.
In Patna, petrol has become Rs 107.42 and diesel Rs 94.21 per litre.
In Jaipur, petrol is being sold at Rs 108.48 and diesel at Rs 93.72 per litre.
In Bhubaneswar, petrol has become Rs 103.47 and diesel Rs 95.03 per litre.

Crude oil

Oil prices dropped on Thursday, extending losses from the previous session, as signals of higher supply from the United States met worries about lackluster energy demand from Asia. Brent futures fell 28 cents to $80.90 a barrel by 0001 GMT. U.S. West Texas Intermediate crude (WTI) lost 31 cents to $76.35 a barrel.

Both benchmarks fell over 1.5% in the prior session.

"Crude oil prices experienced a decline in the international markets following the U.S. Energy Information Administration's report, revealing a surge in US crude oil inventories by 3.6 million barrels for the week ending on November 10, surpassing the anticipated build of 1.8 million barrels. This downturn was exacerbated by concerns over demand from the European Union," said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.

"Additionally, the upward revisions in demand forecasts for 2023 by OPEC+ and the IEA further bolstered crude oil prices at lower levels. Anticipating continued volatility, we project support for crude oil prices within the range of $76.30–75.50, with resistance expected at $77.90–78.50 in today's session. In terms of INR, crude oil finds support at Rs 6,340–6,280 and faces resistance at Rs 6,495–6,570," Kalantri said.

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