There was no change in the prices of petrol and diesel in the country on Wednesday, March 9. However, due to the ongoing Russia-Ukraine conflict, fuel prices are likely to rise in the coming days. US President Joe Biden had earlier imposed sanctions on Russian oil imports, pushing crude to a 14-year high of $140 a barrel on Monday. According to reports, state-run oil marketing companies (OMCs) like Indian Oil, Hindustan Petroleum and Bharat Petroleum may increase the market prices of petrol and diesel as a result of this geopolitical unrest.
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.
Commenting on the decision of possible hike in petrol, diesel prices, Rameshwar Teli, MoS, Petroleum and Natural Gas said: The petroleum ministry decides the oil rate with the oil companies, it is yet to happen. People are aware that oil prices are rising in the midst of the ongoing war. Whenever the meeting takes place you (people) will be informed about the prices.”
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.
Crude oil prices climbed nearly 3% to near $132 a barrel on Tuesday after the United States imposed sanctions on Russian oil and other energy imports over Moscow’s invasion of Ukraine. Global benchmark Brent was last trading near $132 a barrel, up nearly 3 per cent that day, but still peaked at $139.13 on Monday.
“Crude oil showed a lot of volatility on Tuesday following the US sanctions on Russian oil and gas imports. Russia exports 7-8 million barrels of crude oil and fuel per day to global markets, and imposing sanctions on Russian oil and gas could create a supply crunch in already tight supply markets,” said Rahul Kalantri, Vice President Commodities, Mehta Equities Ltd. said.
“We expect crude oil prices to remain volatile in today’s session ahead of the US EIA weekly inventory report,” he added.
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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