You are here: Home » Current Affairs » News » National
Business Standard

Petrol prices up again; rise by Rs 4.80 per litre in eight days

In Chennai too, they were increased. Petrol there now costs Rs 105.94 and diesel Rs 96 per litre

Topics
Fuel prices | Diesel prices | Petrol-diesel prices

IANS  |  New Delhi 

fuel prices
It was widely expected that the OMCs will revise the current prices due to high crude oil cost

The domestic retail selling prices of petrol and diesel were increased for the seventh time in eight days on Tuesday.

Consequently, in the past eight days, petrol and have increased by Rs 4.80 per litre in the capital.

These prices were revised for the very first time on Tuesday, March 22, after a gap of more than four months.

On Tuesday, the price of petrol and diesel in New Delhi were increased again by 80 paise and 70 per litre.

As per pump prices, petrol now costs Rs 100.21 per litre and diesel Rs 91.47 per litre in the capital.

On Monday, petrol prices were increased to Rs 99.41 per litre and diesel Rs 90.77 per litre in Delhi.In the financial capital Mumbai, prices were hiked to Rs 115.04 per litre for petrol and diesel to Rs 99.25 per litre.

Besides, the prices of both the transport fuels were raised in Kolkata. The petrol prices rose to Rs 109.68 and diesel to Rs 94.62 per litre.

In Chennai too, they were increased. Petrol there now costs Rs 105.94 and diesel Rs 96 per litre.

Till last Tuesday, were steady since November 2021 when the Centre reduced excise duty on petrol and diesel by Rs 5 and Rs 10 per litre, respectively.

The OMCs revise the transportation fuel cost based on various factors such as rupee to US dollar exchange rate, cost of crude oil and demand of fuel amongst others.

Resultantly, the final price includes excise duty, value added tax and dealer's commission.

It was widely expected that the OMCs will revise the current prices due to high crude oil cost.

Lately, crude oil prices have been volatile on fears of tight supplies due to sanctions against Russia.

The crude oil price range is a cause of concern for India as it may ultimately add Rs 10-15 in petrol and diesel selling prices.

At present, India imports nearly 85 per cent of its crude oil requirements.

--IANS

rv/pgh

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, March 29 2022. 19:14 IST
RECOMMENDED FOR YOU
.