Petrol Price Hiked Today: Petrol price on Tuesday, March 29, 2022, was hiked by 80 paise a litre and diesel by 70 paise, taking the total increase in rates in the last one week to Rs 4.80 per litre. Petrol in Delhi will now cost Rs. 100.21 per litre as against Rs. 99.41 previously while diesel rates have gone up from Rs. 90.77 per litre to Rs. 91.47, according to a price notification of state fuel retailers. In Mumbai, the prices of petrol and diesel were hiked by 85 paise and 75 paise respectively. This means people will have to pay Rs. 115.04 for petrol and Rs. 99.25 for diesel.
The revised rates of petrol and diesel in Chennai is Rs. 105.94 and Rs. 96.00, while in Kolkata, the price of petrol is Rs. 109.68 and diesel is Rs. 94.62. In Bengaluru, the price of petrol is Rs. 105.62 per litre and Rs. 89.70 per litre for diesel. In Hyderabad, per litre of petrol will cost Rs113.61 and Rs. 99.84 for a litre of diesel.
Earlier, on Sunday, the Indian National Congress attacked the government after fuel prices were increased, and demanded that it should give an account of the Rs 26 lakh crore “accrued” through excise duty on petrol and diesel in about eight years.
Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation. This is the seventh increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22. In all, petrol prices have gone up by Rs 4 .80 per litre and diesel also by Rs 4.80 per litre.
On the first four occasions, prices were increased by 80 paise a litre – the steepest single-day rise since the daily price revision was introduced in June 2017. On the following days, petrol price went up by 50 paise and 30 paise a litre while diesel rose by 55 paise and 35 paise a litre.
India is 85 per cent dependent on imports for meeting its oil needs and so retail rates adjust accordingly to the global movement.
US crude futures fell on Tuesday, extending losses from the previous day as Ukraine and Russia headed for peace talks and on fears of a drop in fuel demand in China after the financial hub of Shanghai shut down to curb a surge in COVID-19 cases.
Brent crude futures were trading down $1.07, or 1.0 per cent, at $111.41 a barrel at 0107 GMT, having dipped as low as $109.97. US West Texas Intermediate (WTI) crude futures hit a low of $103.46 in early trade and were down 79 cents, or 0.8 per cent, at $105.17. Both benchmark contracts lost around 7 per cent on Monday.
Petrol, Diesel Prices on Tuesday, March 29 in Delhi, Mumbai and Other Cities in India
Delhi
Petrol – Rs 100.21 per litre
Diesel – Rs 91.47 per litre
Mumbai
Petrol – Rs 115.04 per litre
Diesel – Rs 99.25 per litre
Chennai
Petrol – Rs 105.94 per litre
Diesel – Rs 96 per litre
Kolkata
Petrol – Rs 109.68 per litre
Diesel – Rs 94.62 per litre
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