Petrol and diesel price today 16 March 2021: Rates highest in Mumbai; Check prices in Delhi, other cities here

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March 16, 2021 9:26 AM

Petrol and Diesel Price Today in India:Petrol and Diesel rate on March 16 remained the same as yesterday. Nation Capital Delhi was quoting petrol price of Rs 91.17 per litre while the cost of 1-litre diesel was at Rs 81.47.

Petrol and Diesel Price in India, Petrol and Diesel Rate Today in IndiaMumbai’s petrol cost is the highest today at Rs 97.57 per litre while Diesel in the country’s financial capital costs Rs 88.60 per litre. (Image: REUTERS)

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel remained unchanged for the seventeenth consecutive day across the country. Prices were last revised on February 27 this year, when petrol became costlier by 24 paise and diesel prices moved up by 15 paise. Nation Capital Delhi was quoting a petrol price of Rs 91.17 per litre while the cost of 1-litre diesel was at Rs 81.47. Fuel prices were highest in Mumbai a Rs 97.57 per litre for Petrol.  Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.

Mumbai’s petrol cost is the highest today at Rs 97.57 per litre while Diesel in the country’s financial capital costs Rs 88.60 per litre. This massive divergence in prices between Delhi and Mumbai is owing to different prices in different cities. Petrol and Diesel prices are fixed on the basis of freight charges, local taxed, and VAT. The base price, which is paid by the dealer, makes up only 36% of the retail petrol rates in Delhi. To this, state VAT is added which adds another 23% to the value and further central taxes account for 37% of the final fuel price paid by the end-user. Freight charges and dealer commission (around 3%) are the other components of the final price. Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.

Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Hyderabad, UP, Punjab, Haryana, Pune

Chennai: Petrol prices – Rs 93.11 per litre; Diesel prices – Rs 86.45 per litre

Kolkata: Petrol prices – Rs 91.35 per litre; Diesel prices – Rs 84.35 per litre

Pune: Petrol prices – Rs 97.21 per litre; Diesel prices – Rs 86.90 per litre

Bengaluru: Petrol prices – Rs 94.22 per litre; Diesel prices – Rs 86.37 per litre

Hyderabad: Petrol prices – Rs 94.59 per litre; Diesel prices – Rs 88.86 per litre

Noida (UP): Petrol prices – 89.38 per litre; Diesel prices – Rs 81.91 per litre

Mohali (Punjab): Petrol prices – Rs 87.37 per litre; Diesel prices – 81.17 per litre

Chandigarh: Petrol prices 87.73 per litre; Diesel prices – Rs 81.17 per litre

Gurugram (Haryana): Petrol prices – Rs 89.11 per litre; Diesel prices – Rs 82.05 per litre 

Crude Oil slips

Crude oil prices slipped on Monday, reversing some gains. Brent Crude futures for May settled at $68.88 per barrel while the WTI crude price for April was at $65.39 a barrel, according to Reuters. Crude prices have been surging higher in 2021 as economic recovery takes shape and vaccination drives, across the globe, pick up pace. Saudia Arabia has trimmed its supply resulting in prices moving north in 2021. “Oil rallied in Asian trading hours Monday to trade just above USD70 a barrel on robust Chinese data but weakened during the European morning as the market veered risk-off after Germany said they would suspect Astra Zeneca vaccinations,” said Stephen Innes, Chief Global Market Strategist at Axi.

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