Petrol And Diesel Prices Hiked Again, Fifth Time In 6 Days | Check New Rates
State-owned oil companies hiked fuel prices for the fifth time in the last six days, making the petrol and diesel costlier by 50 paise and 55 paise, respectively. The latest daily revision in fuel prices has made petrol and diesel costlier by ₹3.70-3.75 per litre within a week.
Today’s Petrol Price in Four Metro Cities in India
- New Delhi ₹ 99.11
- Kolkata ₹ 108.53
- Mumbai ₹ 113.88
- Chennai ₹ 105.00
Today’s Diesel Price in Four Metro Cities in India
- New Delhi ₹ 90.42
- Kolkata ₹ 93.57
- Mumbai ₹ 98.13
- Chennai ₹ 95.10
On Saturday (26 march) Petrol and diesel prices were hiked by 80 paise a litre each, was the fourth increase in five days as oil firms passed on to consumers the spike in cost of raw material.
Petrol Prices on March 26, 2022
- Delhi: Rs98.61/litre
- Mumbai: Rs113.35/litre
- Gurugram: Rs99.08/litre
- Noida: Rs98.68/litre
- Chandigarh: Rs98.06/litre
- Chennai: Rs104.43/litre
- Kolkata: Rs108.01/litre
- Bengaluru: Rs103.93/litre
Diesel Prices on March 26, 2022
- Delhi: Rs89.87/litre
- Gurugram: Rs90.30/litre
- Noida: Rs90.21/litre
- Mumbai: Rs97.55/litre
- Chennai: Rs94.47/litre
- Chandigarh: Rs84.50/litre
- Kolkata: Rs93.01/litre
- Bengaluru: Rs88.14/litre
All the five increases since the ending of a four-and-half-month long hiatus in rate revision on March 22, have been of 50 paise a litre. These increase increases are the steepest single-day rise since the daily price revision was started in June 2017.
Rates differ from state to state depending on the incidence of local taxes.
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.
On Thursday, Moody’s Investors Services said that state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation and Hindustan Petroleum Corporation (HPCL) together lost around ₹19,000 crore in revenue for keeping the prices on hold.
“Based on current market prices, the oil marketing companies are currently incurring a revenue loss of around USD 25 (over ₹1,900) per barrel and USD 24 per barrel on sale of petrol and diesel, respectively,” Moody’s said in a report.