Petrol, Diesel Price Today 5 December 2024: Oil prices went up on Thursday as investors awaited the outcome of an OPEC+ meeting which is scheduled to take place today. The main focus of the meeting will be on supply cuts. Moreover, the market is closely watching the ongoing tensions in the Middle East. As per the latest data, Brent crude futures have gone up by 12 cents to $72 .43 per barrel whereas, US crude futures claimed up by 16 cents at $68.70 per barrel.
As per sources from Reuters, OPEC+ members along with the Organization of the Petroleum Exporting Countries and its allies are expected to extend their oil production cuts by at least three months from next January. OPEC+ has been slowly lowering supply cuts with plans to phase them out by next year. Meanwhile, the US Middle East envoy of Donald Trump is on a trip to Israel and Qatar, as part of a diplomatic initiative. The main focus is to achieve a ceasefire in Gaza and workout a deal regarding the release of hostages ahead of the US president-elect inauguration schedule to take place on January 20.
According to Rahul Kalantri, from VP Commodities, Mehta Equities Ltd, ”We anticipate crude oil prices will remain volatile this week, influenced by fluctuations in the dollar index, the outcomes of the OPEC+ meetings, and ongoing geopolitical tensions. Crude oil is seeing support at $67.50-66.80, with resistance at $68.85-69.40 in today’s session. In INR terms, support is at Rs 5,750-5,670, with resistance at Rs 5,890-5,960.”
Check latest Petrol and Diesel prices at your place on 5 December 2024
Mumbai: Petrol price: Rs 103.44 per litre, Diesel price: Rs 90.03 per litre
Hyderabad: Petrol price: Rs 107.46 per litre, Diesel price: Rs 95. 70 per litre
Jammu: Petrol price: Rs 95.48 per litre, Diesel price: Rs 81.32 per litre
Kolkata: Petrol price: Rs 105.05 per litre, Diesel price: Rs 91.82 per litre
Lucknow: Petrol price: Rs 94.84 per litre, Diesel price: Rs 87.98 per litre
Gurgaon: Petrol price: Rs 94.91 per litre, Diesel price: Rs 87.77 per litre
New Delhi: Petrol price: Rs 94.77 per litre, Diesel price: Rs 87.67 per litre
Indore: Petrol price: Rs 106.74 per litre, Diesel price: Rs 92.11 per litre
Nagpur: Petrol price: Rs 104.32 per litre, Diesel price: Rs 90.87 per litre
Bangalore: Petrol price: Rs 102.92 per litre, Diesel price: Rs 89.99 per litre
Ghaziabad: Petrol price: Rs 94.89 per litre, Diesel price: Rs 88.03 per litre
Bhopal: Petrol price: Rs 106.52 per litre, Diesel price: Rs 91.89 per litre