Petrol, diesel price hiked again; know latest rates in your city
By Team Newsable | First Published Mar 27, 2022, 9:52 AM ISTPetrol in Delhi will now cost Rs 99.11 per litre as against Rs 98.61 previously while diesel rates have gone up from Rs 89.87 per litre to Rs 90.42, according to a price notification of state fuel retailers.
State-owned oil companies hiked the prices of petrol and diesel on March 27 (Sunday) once again across the country for the fifth time in the last six days, making both costlier by 50 paise and 55 paise, respectively.
The latest daily revision in fuel prices has made petrol and diesel costlier by Rs 3.70-3.75 per litre within a week. On all the previous four occasions, prices had been increased by 80 paise a litre - the steepest single-day rise since the daily price revision was introduced in June 2017.
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Petrol in Delhi will now cost Rs 99.11 per litre as against Rs 98.61 previously while diesel rates have gone up from Rs 89.87 per litre to Rs 90.42, according to a price notification of state fuel retailers. In the financial capital-Mumbai, petrol is being retailed at Rs 113.88 per litre and diesel now costs Rs 98.13 a litre.
The cost revision has taken the petrol price in Chennai to Rs 104.90 per litre and diesel to Rs 95.00 a litre. In Kolkata, the price of petrol per litre is Rs 108.53 and diesel is Rs 93.57.
The rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.
Prices had been on a freeze since November 4 ahead of the Assembly elections in states like Uttar Pradesh and Punjab -- a period during which the cost of raw material (crude oil) soared by about USD 30 per barrel.
Oil companies, who did not revise petrol and diesel rates for a record 137 days despite prices of crude oil (raw material for producing fuel) rising to USD 117 per barrel compared to around USD 82 in early November, are now passing on to consumers the required increase in stages.
Moody’s Investors Services on Thursday stated that state-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) together lost around USD 2.25 billion (Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during the election period.
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