Petrol, Diesel Prices Rise Again, Ninth Rise In 10 Days. See Rates

A liter of petrol in Delhi is currently priced at Rs 101.81, while diesel will be sold at Rs 93.07.

Petrol, Diesel Prices Today: Fuel prices were raised again on Thursday for the ninth time in the last 10 days. In Delhi, petrol and diesel rates were raised by 80 paise per liter each, according to state fuel retailer price notifications.

A liter of petrol in the capital is now priced at Rs 101.81 compared to Rs 101.01 previously, while diesel will be sold at Rs 93.07 from Rs 92.27 per liter previously.

In Mumbai, petrol will be sold at Rs 116.72 per liter, while diesel will be sold at Rs 100.94 per liter. Among metro cities, fuel rates are the highest in Mumbai. Prices vary across states due to value added tax (VAT).

Fuel rates remained stable for more than four months despite soaring crude oil prices. The rate review ended on March 22nd. Overall, petrol and diesel prices rose Rs 6.40 per liter each, after nine rate revisions.

(Also Read: How To Check The Latest Petrol And Diesel Rates In Your City).

Here are the prices of petrol and diesel in all metro cities:

Moody’s Investors Services last week noted that state retailers together lost around $ 2.25 billion (Rs 19,000 crore) in revenue due to maintaining petrol and diesel prices during the election period.

The rate was held amid rally elections in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.

The Equity Institution Box said that oil companies “need to raise diesel prices by Rs 13.1-24.9 per liter and Rs 10.6-22.3 per liter on petrol at the base oil price of $ 100-120 per barrel.

CRISIL Research said a Rs 9-12 per liter increase in retail price would be required to fully pass the average $ 100 per barrel of crude oil and a Rs 15-20 per liter increase if the average crude oil price rises to $ 110-120.

Government-owned oil refiners such as Indian Oil, Bharat Petroleum and Hindustan Petroleum review fuel rates on a daily basis, taking into account the price of crude oil in the international market, and the rupee-dollar exchange rate. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.

India is 85 per cent dependent on imports to meet its oil needs and, domestic petrol and diesel prices are linked to international rates.

Globally, oil rates fell sharply as the United States took into account a massive draw from its reserves to curb the spike in fuel prices. Brent crude futures fell 4.4 percent to $ 108.50 a barrel and U.S. crude futures fell more than 5 percent to $ 101.76 a barrel.


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