Petrol and diesel prices remain unchanged for 11 straight day

Indian oil marketing companies increased the prices of motor fuels by 14 times since March 22.
By : HT Auto Desk
| Updated on: 17 Apr 2022, 09:26 AM
Petrol and diesel prices have surged incessantly in the last few weeks. (Bloomberg)
Petrol and diesel prices have surged incessantly in the last few weeks. (Bloomberg)
Petrol and diesel prices have surged incessantly in the last few weeks. (Bloomberg)
Petrol and diesel prices have surged incessantly in the last few weeks.

Petrol and diesel prices have remained unchanged for the eleventh consecutive day on Sunday, April 17. The price of both these motor fuels was last increased by 8-0 paise per litre on April 6, taking the total tax incidence to 10 per litre in just 16 days, after the resumption of daily price revision on March 22.

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(Also read: Pakistan could see petrol, diesel prices hiked by over 100 per litre soon)

Currently, petrol in Delhi costs 105.41 per litre, while diesel costs 96.67 per litre. In Chennai, petrol and diesel prices are at 110.85 and 100.94 per litre. In Kolkata, petrol and diesel rates are 115.12 per litre and 99.83 for a litre, respectively. In Bengaluru, a litre of petrol costs 111.09 and a litre of diesel now costs 94.79. In Mumbai, one litre of petrol costs 120.51 and diesel is priced at 104.77 per litre.

Since the daily price revision resumed last month breaking the four and half month hiatus, the Indian oil marketing companies increased prices of the motor fuels by 14 times. Not only petrol and diesel but per kg CNG prices too have been increased multiple times in last one month in Delhi and Mumbai. Such relentless prices hike for petrol, diesel and CNG prices have increased pressure on common people including motorists significantly.

The central government claims the recent series of price hikes for petrol and diesel have been announced in line with the price hike of crude oil in the international market, owing to the ongoing conflict between Russia and Ukraine. While crude oil prices at one point hit $139 per barrel, it has come down drastically. However, the petrol and diesel prices in India didn't reflect the price reduction for crude oil in the international market. While the latest pause in price revision of petrol and diesel has brought a momentary relief for the consumers, the price of motor fuels can go up further in the coming days.

 

First Published Date: 17 Apr 2022, 09:26 AM IST
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