Petrol and diesel prices in the country remained unchanged on Thursday, March 10. However, OPEC member the United Arab Emirates said on Wednesday that global oil prices fell by the most in nearly two years, saying it favored pumping more oil into a market hit by supply disruptions. Because of sanctions on Russia after invading Ukraine.
Petrol in Delhi costs Rs 95.41 per liter while diesel costs Rs 86.67 per liter. Petrol in Mumbai can be bought at Rs 109.98 per liter and diesel at Rs 94.14 per liter.
Meanwhile, petrol costs Rs 104.67 per liter in Kolkata while diesel costs Rs 101.56 per litre. Petrol price in Chennai today remained stable at Rs 101.40 per liter, while diesel price remained unchanged at Rs 91.43 per litre.
The government has been keeping fuel rates stable for more than four months so far in view of the assembly elections in five states, including Uttar Pradesh. Yesterday, there were reports that imminent hike in petrol and diesel prices has been put on wait-and-watch mode for more clarity on global oil prices. Today’s 2022 assembly election results will be announced. After this, there is a possibility of increase in the prices of petrol and diesel.
Meanwhile, ATF prices have seen a sharp rise of around 57 per cent on a year-on-year basis till March 2022. The main reason for this is the rise in crude oil prices. ATF prices, which are one of the biggest cost components for airlines, have climbed to Rs 19,508.25 per kilo liter (KL) in New Delhi since December 15. The latest increase of 3.22 per cent on March 1 took the ATF in the national capital to Rs 93,530.66 per kilolitre.
However, as a relief for global markets, Brent crude futures settled $16.84 or 13.2 per cent lower at $111.14 a barrel, their biggest one-day fall since April 21, 2020. US crude futures ended down $15.44. , or 12.5 percent, at $108.70, their biggest daily drop since November, news agency Reuters reported. “We are in favor of increasing production and would encourage OPEC to consider higher production levels,” Ambassador Yusuf Al Otaiba said in a statement tweeted by the Embassy of the United Arab Emirates in Washington.
The United Arab Emirates and neighboring Saudi Arabia are among the few members of the Organization of the Petroleum Exporting Countries, which have excess capacity that could increase production. The United States has called on oil producers around the world to increase production if they can.
The additional supply from OPEC could offset some of the supply shortfalls caused by the disruption in Russia’s oil sales by economic sanctions imposed by the United States and other governments.
Check Petrol and Diesel Prices across India as on March 9, 2022
Mumbai
Petrol – Rs 109.98 per liter
Diesel – Rs 94.14 per liter
Delhi
Petrol – Rs 95.41 per liter
Diesel – Rs 86.67 per liter
Chennai
Petrol – Rs 101.40 per liter
Diesel – Rs 91.43 per liter
Kolkata
Petrol – Rs 104.67 per liter
Diesel – Rs 89.79 per liter
Bhopal
Petrol – Rs 107.23 per liter
Diesel – Rs 90.87 per liter
Hyderabad
Petrol – Rs 108.20 per liter
Diesel – Rs 94.62 per liter
bangaluru
Petrol – Rs 100.58 per liter
Diesel – Rs 85.01 per liter
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