Petrol, Diesel Prices Hiked by Rs 1.60 in Two Days. Know Fuel Rates in your City Today

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Petrol, Diesel Price Today, March 23, 2022: A litre of petrol will cost Rs 97.01 in Delhi. In Mumbai, you have to pay Rs 111.67 for a litre of petrol.

Petrol and diesel prices were hiked over 80 paise a litre again on Wednesday. The fuel rates in the country increased for the second consecutive day on March 23. To provide relief to common man amid rising inflation, the central government has reduced the excise duty on petrol and diesel by Rs 5 and Rs 10, respectively on November 2,2021. Since then, the price of petrol and diesel remained unchanged. On March 22, the oil marketing companies raised the fuel prices for the first time after 137 days.

After the latest hike, a litre of petrol will now cost Rs 97.01 per litre in Delhi. In Mumbai, you have to pay Rs 111.67 for a litre of petrol. A litre of petrol is available at Rs 106.34 in Kolkata. In Chennai, one has to shell Rs 102.91 for petrol.

Diesel price has also gone up on Wednesday. In Delhi, a litre of diesel will cost Rs 88.27 per litre, according to a price notification of state-owned fuel retailers. In Mumbai, you have to shell Rs 95.85 for a litre of diesel. In Kolkata, a litre of diesel is priced at Rs 91.42. Customers have to shell Rs 92.95 for a litre of auto fuel in Chennai.

The price of petrol and diesel in India depends on the international crude oil prices, rupee-dollar exchange rate and various taxes levied by the central government and state governments. A sudden jump in the crude oil prices amid Russian invasion in Ukraine, has prompted the oil marketing companies to raise the fuel prices in India. A hike of Rs 15-20 per litre is required to fully pass through a $30 per barrel increase in the cost of raw material (crude oil), according to CRISIL Research.

In the international market, crude oil prices jumped on Wednesday, erasing losses from the previous session. Brent crude futures climbed $1.06, or 0.9 per cent, to $116.54 a barrel at 0213 GMT. US West Texas Intermediate (WTI) crude futures rose 87 cents, or 0.8 per cent, to $110.14 a barrel.

“International oil prices rose this early Wednesday morning in Asian trade ahead of EIA data and after Russia warns of sharp Caspian pipeline oil export drop after storm. Domestic crude oil prices could start with gains this early Wednesday morning, tracking a positive start in the overseas prices,” said Reliance Securities in a report.

Petrol, Diesel Prices on Wednesday, March 23 in Delhi, Mumbai and Other Cities in India

Delhi

Petrol – Rs 97.01 per litre

Diesel – Rs 88.27 per litre

Mumbai

Petrol – Rs 111.67 per litre

Diesel – Rs 95.85 per litre

Kolkata

Petrol – Rs 106.34 per litre

Diesel – Rs 91.42 per litre

Chennai

Petrol – Rs 102.91 per litre