Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were hiked on March 22, 2022, for the first time since November last year. Consumers will have spend as much as 80 paise per litre more from today as compared to Oil Marketing Companies (OMC) hike prices. Petrol in the National Capital of Delhi currently retails at Rs 96.21 per litre up from Rs 95.41 per litre yesterday, while diesel in the city is priced at Rs 87.47 pet litre up from Rs 86.67 per litre — both up 80 paise per litre. In Mumbai, a litre of petrol and diesel cost Rs 110.82 and Rs 95, respectively. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
OMCs had neither raised nor reduced petrol and diesel rates for more than 100 days till today, while international oil prices were volatile. Any changes in petrol and diesel prices are implemented with effect from 6 am every day. Retail petrol, diesel prices differ from state to state on account of local taxes like VAT or freight charges. Analysts had expected an increase in fuel rates as crude oil prices were hurting the government’s kitty.
Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
Mumbai: Petrol price– Rs 110.82 per litre, Diesel price – Rs 95 per litre
Delhi: Petrol price – Rs 96.21 per litre, Diesel price – Rs 87.47 per litre
Chennai: Petrol price – Rs 102.16 per litre, Diesel price – Rs 92.19 per litre
Kolkata: Petrol price – Rs 105.51 per litre, Diesel price – Rs 90.62 per litre
The fuel prices across key cities were earlier collectively revised on November 4 after the Central government cut excise duties on petrol and diesel to bring down their retail rates from their record high gains.
Crude Oil prices rise
Crude oil prices were seen rising on reports that the European Union may ban Russian crude imports. Brent crude futures were up 2.8% at $118.82 per barrel. Brent crude had scaled highs of $130 earlier in the month. On the other hand, US West Texas Intermediate (WTI) crude May futures were up 2.5% at $118.82 per barrel mark.
“Russia is one of the largest exporters of oil to the European Union and banning Russian oils could be havoc,” said Rahul Kalantri, VP Commodities, Mehta Equities. “We expect crude oil prices remain firm, crude oil is having support at $104.5–101.20 and resistance is at $114.20–117.00,” he added.