Petrol and diesel prices held steady across metro cities on November 16, the latest price notification issued by fuel retailers showed.
Petrol and diesel in Delhi cost Rs 96.72 per litre and Rs 89.62 a litre. In Mumbai, petrol is being sold for Rs 106.31/litre and diesel for Rs 94.27/litre. Petrol and diesel are priced at Rs 102.63/litre and Rs 94.24/litre in Chennai and at Rs 106.03/litre and Rs 92.76/litre in Kolkata, respectively.
Earlier this year, the government had reduced the tax on petrol and diesel in order to offer relief to consumers as fuel prices reached an all-time high with hikes almost every other day till May. The excise duty cut on petrol and diesel translated into a reduction of Rs 9.5/litre on petrol and Rs 7/litre on diesel.
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Oil prices rose on November 15 and settled higher after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure.
Brent crude futures rose 72 cents to settle at $93.86 a barrel, while US West Texas Intermediate crude rose $1.05 to $86.92.
Russia's state-owned pipeline monopoly Transneft has been notified by Ukraine of the pipeline disruption, the RIA news agency quoted Transneft as saying on November 15. Read more here.