Petrol, Diesel Prices Announced for March 16; Check Fresh Rates In Major Cities Here

India, like many other nations, heavily relies on fossil fuels to power its transportation sector. Petrol and diesel are the two most frequently used fuels in the country, and they have maintained a consistent price for the past nine months. Due to a price freeze enforced by Indian Oil Marketing Companies (OMCs), the prices of these fuels have become impervious to exchange rate and supply and demand fluctuations. OMCs usually updated prices based on the most recent market trends every morning at 6 am, but they have maintained stability to recuperate the losses sustained in the previous quarters.

This pattern of unchanging prices persisted on March 16, 2023, as well. Petrol and diesel prices continue to remain elevated in most parts of India. In Delhi, petrol is available for sale at Rs 96.72 per litre, while diesel is selling at Rs 89.62 for the same amount. In Chennai, petrol is retailing at Rs 102.73 per litre, while diesel continues standing at Rs 94.33 per litre.

Mumbai has the highest prices of the lot for petrol at Rs 106.31 per litre. Diesel here cost Rs 94.27 per litre. In Kolkata, the price of a litre of petrol was stagnant at Rs 106.03, while diesel continued trading at Rs 92.76 per litre.

Find fuel rates in different cities in India on Thursday, March 16 here:

Delhi

Petrol: Rs 96.72 per litre

Diesel: Rs 89.62 per litre

Chennai

Petrol: Rs 102.73 per litre

Diesel: Rs 94.33 per litre

Kolkata

Petrol: Rs 106.03 per litre

Diesel: Rs 92.76 per litre

Mumbai

Petrol: Rs 106.31 per litre

Diesel: Rs 94.27 per litre

Bengaluru

Petrol: Rs 101.94 per litre

Diesel: Rs 87.89 per litre

Lucknow

Petrol: Rs 96.57 per litre

Diesel: Rs 89.76 per litre

Bhopal

Petrol: Rs 108.65 per litre

Diesel: Rs 93.90 per litre

Gandhinagar

Petrol: Rs 96.63 per litre

Diesel: Rs 92.38 per litre

Hyderabad

Petrol: Rs 109.66 per litre

Diesel: Rs 97.82 per litre

Thiruvananthapuram

Petrol: Rs 107.71 per litre

Diesel: Rs 96.52 per litre

It is worth noting that petrol and diesel prices differ from state to state, influenced by various factors, such as Value Added Tax (VAT), freight charges, and local taxes. The most recent nationwide alteration in fuel prices occurred on May 21 of the previous year when Finance Minister Nirmala Sitharaman lowered excise duty by Rs 8 per litre on petrol and Rs 6 per litre on diesel.

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