Petrol, Diesel Price Changed? Check Latest Price Of Petrol, Diesel Across Metros

By Shreya Bose Last updated Mar 13, 2022

There are speculations that fuel prices may rise by Rs 12 to Rs 15 per litre soon.

The rates of petrol and diesel in several metro areas remained constant today.

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Rates Steady

This means that domestic auto fuel prices have been unchanged in over four months despite the global crude oil prices breaching the $100 mark and reaching record highs.

However, there are speculations that fuel prices may rise by Rs 12 to Rs 15 per litre soon.

Below are the rates prevailing in the major cities.

Cities And Rates

Mumbai

Petrol – Rs 109.98 per litre

Diesel – Rs 94.14 per litre

Delhi

Petrol – Rs 95.41 per litre

Diesel – Rs 86.67 per litre

Chennai

Petrol – Rs 101.40 per litre

Diesel – Rs 91.43 per litre

Kolkata

Petrol – Rs 104.67 per litre

Diesel – Rs 89.79 per litre

Bhopal

Petrol – Rs 107.23 per litre

Diesel – Rs 90.87 per litre

Hyderabad

Petrol – Rs 108.20 per litre

Diesel – Rs 94.62 per litre

Bengaluru

Petrol – Rs 100.58 per litre

Diesel – Rs 85.01 per litre

Price Revision

The last time prices across key cities were collectively revised was on November 4, 2021.

The central government had slashed excise duty on both fuels to reduce their retail rates from their record highs.

It also urged state governments to cut VAT on fuel, which various states did.

How Prices Are Set

Petrol and diesel prices vary from state to state depending on the local taxation (VAT) and freight charges.

On top of that the central government also charges an excise duty on auto fuels.

Typically, oil marketing companies (OMCs) revise fuel rates daily, based on the average price of benchmark fuel in the international market in the last 15-days and foreign exchange rates.

Effects Of Russian Invasion

Oil prices went up on Friday but posted their steepest weekly decline since November as traders saw potential improvements to the supply that was disrupted by Russia’s invasion of Ukraine.

Crude prices have surged since the invasion.

This week, futures benchmarks hit their highest levels since 2008, then pulled back sharply due to indications that some producing countries may boost supply.