Petrol, diesel prices hiked again: Petrol and diesel prices were hiked again on Monday for the sixth time in a week, increasing by Rs 4.00 and Rs 4.10 per liter respectively from the past one week. This is the sixth increase in prices since the end of a four-and-a-half-month long gap in the rate revision on March 22. petrol and diesel After an increase of 30 paise and 35 paise respectively in Delhi, it is now selling at Rs 99.41 per liter and today at Rs 90.72 per liter. With the latest revision, in Mumbai, petrol and diesel prices were hiked by 31 paise and 37 paise respectively. Now in the finance capital, people will have to pay Rs 114.19 for petrol and Rs 98.50 for diesel.
The revised rates of petrol and diesel in Chennai are Rs 105.18 and Rs 95.33, while in Kolkata the price of petrol is Rs 108.85 and diesel is Rs 93.92. Petrol price in Bangalore is Rs 104.78 and diesel is Rs 89.02 per litre.
all in, petrol prices 4 per liter and diesel by Rs 4.10. In states such as Uttar Pradesh and Punjab, prices were stable since November 4, ahead of the assembly elections – during a period that saw the price of crude (crude oil) rise by around USD 30 per barrel. The revision of rates was expected soon after the counting of votes on March 10, but was postponed by a couple of weeks.
Moody’s Investors Services said last week that the state’s retailers overall lost nearly USD 2.25 billion (Rs 19,000 crore) in revenue for maintaining petrol and diesel prices during the election period.
According to Kotak Institutional Equities, oil companies “will need to increase the prices of diesel by Rs 13.1-24.9 per liter and on gasoline (petrol) by Rs 10.6-22.3 per litre.”
Crude oil prices fell by nearly $4 on Monday as concerns grew over slowing fuel demand in China after officials in Shanghai said they would close the country’s financial hub for a COVID-19 testing blitz in nine days. The ongoing war between Ukraine and Russia, the world’s second-largest crude exporter, and an extension of the COVID-related lockdown in China, the world’s biggest crude importer, triggered yet another week of market uncertainty.
Brent crude futures slid as low as $116.00 a barrel and were trading down $3.88, or 3.2 percent, at $116.77 by 0131 GMT. US West Texas Intermediate (WTI) crude futures settled as low as $109.30 a barrel, and were down $3.92, or 3.4 percent, at $109.98.
Petrol, Diesel Price in Delhi, Mumbai and other cities of India as on Sunday, March 28
Delhi
Petrol – Rs 99.41 per liter
Diesel – Rs 90.72 per liter
Mumbai
Petrol – Rs 114.19 per liter
Diesel – Rs 98.50 per liter
Chennai
Petrol – Rs 105.18 per liter
Diesel – Rs 95.33 per liter
Kolkata
Petrol – Rs 108.85 per liter
Diesel – Rs 93.92 per liter
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