For more than a year, the price of petrol in Delhi has been Rs 96.72 per liter, while diesel is being sold at Rs 89.62 per litre. 
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For more than a year, the price of petrol in Delhi has been Rs 96.72 per liter, while diesel is being sold at Rs 89.62 per litre. Petrol and diesel prices on December 7: Oil marketing companies in the country, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), have released the latest rates of petrol and diesel for all states. State-owned oil marketing companies have temporarily abandoned the daily price revision of petrol, diesel since last year.
Like most days, the fuel prices were more or less constant or at the same level in most cities on December 7, Thursday.
For more than a year, the price of petrol in Delhi has been Rs 96.72 per liter, while diesel is being sold at Rs 89.62 per litre.
In Mumbai, petrol is available for Rs 106.31 per liter, with diesel following suit at Rs 94.27 per litre.
In Kolkata, the cost of petrol amounts to Rs 106.31 per liter, with diesel priced at Rs 92.76 per liter. In Chennai, petrol is available at Rs 102.63 per liter, while diesel can be obtained at Rs 94.24 per liter.
There were minor tweaks in some states, such as UP, Haryana, Jharkhand, Karnataka, Punjab, West Bengal, Himachal Pradesh, Madhya Pradesh, Bihar and Rajasthan.
The fuel prices were increased in Uttar Pradesh by around 67 paise -- petrol by 67 paise and diesel by 66 paise. In Haryana, both petrol and diesel have become costlier by 28 paise. In Jharkhand, Karnataka, Punjab and Rajasthan, there were minor tweaks.
In West Bengal, the prices were cut by 44 paise -- petrol by 44 paise and diesel by 41 paise. In Maharashtra, petrol has become cheaper by 58 paise and diesel by 53 paise. There were minor downward revision in Himachal Pradesh, Madhya Pradesh and Bihar.
Revised price chart
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 96.59
Diesel: Rs 90.14
Petrol: Rs 96.58
Diesel: Rs 89.75
The last country-wide revision was done on May 21, 2022, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
Crude oil price
Oil prices rose and recovered some of their losses in early Asian trading. The prices are at the lowest levels since June. WTI has lost nearly 9 per cent of its value in December and has broken below the psychological $70.00 level.
The prices of Brent crude and West Texas Intermediate (WTI) experienced a nearly 4 per cent drop on the back of an unexpected and significant increase in US gasoline inventories.
On Thursday, brent crude futures rose 32 cents, or 0.43 per cent, to $74.62 a barrel. US West Texas Intermediate crude futures rose 33 cents, or 0.48 per cent, to $69.71 a barrel.
Despite OPEC's efforts to cut production, November saw a slight dip to 27.81 million bpd, with Saudi Arabia maintaining output close to 9 million bpd, while Iran increased its production.
The recent selloff in energy markets is driven by multiple factors -- investors have been dismayed by OPEC+ supply cuts announced in late November, disappointing growth in China, coupled with record U.S. crude production at a time of slowing economic activity, and others.
"Crude oil exhibited significant volatility, experiencing a continued decline on Wednesday. The drop to a 6-month low was attributed to the strengthening dollar index and concerns over Chinese demand. This unexpected drawdown could provide some support to prices at lower levels. Anticipating ongoing volatility, we project crude oil prices to remain unpredictable in today's session. The support levels for crude oil stand at $68.85–68.10, with resistance at $70.70-71.40 for today's session. In terms of INR, crude oil finds support at Rs 5,740-5,660 and faces resistance at Rs 6,890-5,970," said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
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