Petrol, diesel prices hiked for eighth time in nine days. Check rates

  • The price of petrol in the Delhi now stands at 101.01 per litre, while diesel is selling at 92.27 per litre.
A petrol pump staff refills fuel in a two-wheeler as fuel prices continue to rise, with prices of petrol and diesel further hiked. (Amit Sharma)
A petrol pump staff refills fuel in a two-wheeler as fuel prices continue to rise, with prices of petrol and diesel further hiked.

Prices of petrol and diesel continue to soar with the eighth hike in nine days taking the fuel rates up by another 80 paise per litre each on Wednesday. The total rise in prices of the motor fuels has been of about 5.60 a litre since oil marketing firms started price revision on March 22 after a four-and-half-month long hiatus.

With the latest hike, the price of petrol in the national capital now stands at 101.01 per litre, while diesel is selling at 92.27 per litre. In Mumbai, the petrol and diesel prices have gone up by 84 paise and 85 paise per litre respectively, thus costing 115.88 and 100.10 per litre.

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In Chennai, the price of petrol stands at 106.69 after being increased by 75 paise a litre and diesel is 96.76 after being increased by 76 paise per litre. In Kolkata, the price of petrol is 110.52 a litre after being increased by 84 paise and diesel is 95.42 per litre after being increased by 80 paise.

As India imports 85 per cent of its energy needs from the international market, a slight fluctuation in prices of crude oil in the international market impacts the petrol and diesel costs in the country. Experts suggest that the price of petrol and diesel will continue to surge in the Indian market in small doses.

The daily revision in fuel prices was paused on November 4 last year, which was broken on March 22, following the crude oil going upwards due to the Russian invasion of Ukraine. Prices are expected to see further hikes given the sharp jump in crude oil prices in the international markets. This is expected to have a cascading impact on the prices of other items as well and lead to inflationary pressure and hurt growth.

(with inputs from ANI)

First Published Date: 30 Mar 2022, 09:34 AM IST
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