Petrol, Diesel Price: Fresh Fuel Prices Announced for Petrol, Diesel – check new rates

Petrol, Diesel Price: Fresh Fuel Prices Announced for Petrol, Diesel

Petrol, Diesel Prices Today: The prices of petrol and diesel in several metro areas have remained steady today. Petrol prices in cities such as New Delhi, Kolkata, Mumbai, Chennai, and Bangalore will remain constant today. There has been no change in domestic auto fuel prices in over four months despite the global crude oil prices breaching the three-figure mark and touching multi-year highs. However, now there are speculations that fuel prices may rise by Rs 12 to Rs 15 per litre. There are chances that OMCs may increase prices soon.

In Delhi, petrol costs Rs 95.41 a litre while the rate of diesel was Rs 86.67 per litre. In Mumbai, petrol can be bought at Rs 109.98 per litre and diesel costs Rs 94.14 for one litre.

Meanwhile, Petrol in Kolkata costs Rs 104.67 per litre while diesel costs Rs 101.56 a litre. The price of petrol in Chennai has remained steady today at Rs 101.40 per litre, while the price of diesel has remained unchanged at Rs 91.43 per litre.

The prices across key cities were collectively last revised on November 4, 2021, when the central government cut the excise duty on the two key fuels to bring down their retail rates from their record highs and had urged state governments to cut VAT on fuel. Thereafter, various states had reduced VAT on auto fuels.

Petrol and diesel prices in the country differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.

Generally, the oil marking companies (OMCs) revise rates of petrol and diesel daily, based on the average price of benchmark fuel in the international market in the preceding 15-days and foreign exchange rates.

Oil prices settled higher on Friday but posted their steepest weekly decline since November, as traders assessed potential improvements to the supply outlook that has been disrupted by Russia’s invasion of Ukraine.

Crude prices have soared since the invasion, which Moscow calls a “special military operation.” This week, futures benchmarks hit their highest levels since 2008, then pulled back sharply as some producing countries signalled they may boost supply.

Brent crude futures rose $3.34, or 3.1 per cent, on Friday, settling at $112.67 a barrel, after hitting a session low of $107.13. U.S. West Texas Intermediate (WTI) crude futures rose $3.31, or 3.1 per cent, to settle at $109.33 a barrel, off the session low of $104.48, Reuters reported.

Check out the Petrol and Diesel Prices Across India on March 9, 2022

Mumbai

Petrol – Rs 109.98 per litre

Diesel – Rs 94.14 per litre

Delhi

Petrol – Rs 95.41 per litre

Diesel – Rs 86.67 per litre

Chennai

Petrol – Rs 101.40 per litre

Diesel – Rs 91.43 per litre

Kolkata

Petrol – Rs 104.67 per litre

Diesel – Rs 89.79 per litre

Bhopal

Petrol – Rs 107.23 per litre

Diesel – Rs 90.87 per litre

Hyderabad

Petrol – Rs 108.20 per litre

Diesel – Rs 94.62 per litre

Bangaluru

Petrol – Rs 100.58 per litre

Diesel – Rs 85.01 per litre