Petrol, Diesel Fresh Prices Announced: After a day’s respite, Petrol, Diesel prices in the country have again increased today, March 25, 2022. Petrol rates have been hiked by 76-84 paise, while diesel prices have gone higher by 76-85 paise. As per the latest IOC update, the price of petrol & diesel in Delhi at Rs 97.81 per litre & Rs 89.07 per litre respectively today (increased by 80 paise). In Mumbai, the petrol & diesel prices per litre at Rs 112.51 & Rs 96.70 (increased by 84 paise & 85 paise respectively)
In Chennai, the price of petrol is Rs 103.67 & diesel is Rs 93.71 (increased by 76 paise) and in Kolkata, the price of petrol is Rs 106.34 (increased by 84 paise) and diesel is 91.42 (increased by 80 paise).
Notably, petrol is priced above Rs. 100 per litre in states like Madhya Pradesh, Andhra Pradesh, Maharashtra, Telangana, Karnataka, Rajasthan, Orissa, Jammu and Kashmir and Ladakh.
Earlier, the fuel prices were hiked on Tuesday and then again on Wednesday. The rates were raised by 80 paise per litre each time.
The rate of petrol and diesel in India depends on various factors such as demand for fuel, valuation of INR against USD and the consumption ratio of refineries. The prices of petrol and diesel also depend on local taxes like value-added tax (VAT) and freight charges and can change from state to state.
The petrol and diesel rates had been on a freeze since November 4 — a period during which the cost of raw material (crude oil) soared by $30 per barrel.
The rate revision was expected soon after assembly elections ended on March 10 but it was put off.
Oil companies are now recouping the losses. According to a report by Moody’s Investors Services, India’s top fuel retailers IOC, BPCL and HPCL together lost around $ 2.25 billion ( Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during elections in five states.
Crude prices in early trade today were hovering lower with Brent crude down by 0.7 per cent at $118.2 per barrel, while WTI crude was down by over 0.9 per cent at $111.3 per barrel. The losses in the commodity are seen as the EU could not decide on a plan for boycotting Russian oil. Also, there are reports that exports from the Caspian Pipeline Consortium terminal in Kazakhstan can partially begin.
Petrol, Diesel Prices on Wednesday, March 24 in Delhi, Mumbai and Other Cities in India
Delhi
Petrol – Rs 97.81 per litre
Diesel – Rs 89.07 per litre
Mumbai
Petrol – Rs 112.51 per litre
Diesel – Rs 96.70 per litre
Kolkata
Petrol – Rs 106.34 per litre
Diesel – Rs 91.42 per litre
Chennai
Petrol – Rs 103.67 per litre
Diesel – Rs 93.71 per litre
Bhopal
Petrol – Rs 109.78 per litre
Diesel – Rs 93.32 per litre
Hyderabad
Petrol – Rs 110.01 per litre
Diesel – Rs 96.37 per litre
Bengaluru
Petrol – Rs 102.26 per litre
Diesel – Rs 86.58 per litre
Guwahati
Petrol – Rs 96.34 per litre
Diesel – Rs 82.67 per litre
Lucknow
Petrol – Rs 96.87 per litre
Diesel – Rs 88.42 per litre
Gandhinagar
Petrol – Rs 96.94 per litre
Diesel – Rs 91.00 per litre
Thiruvananthapuram
Petrol – Rs 108.11 per litre
Diesel – Rs 95.17 per litre
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