Petrol, Diesel Prices: In what comes as a relief, petrol and diesel prices were stagnant on Thursday. This is only the third time in the last 17 days that the fuel prices have remained unchanged. Petrol in Delhi will now cost Rs 105.41 per litre as against Rs 104.61 previously, while diesel rates have gone up from Rs 95.87 per litre to Rs 96.67, according to a price notification of state fuel retailers. In Mumbai, petrol and diesel prices per litre stand at Rs 120.51 and Rs 104.77 respectively.
Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation. This is the 14th increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22. However, it is expected to rise further as oil marketing companies (OMCs) revise prices in line with rising crude oil prices.
Experts have noted that the retail price of petrol and diesel need to be hiked by Rs 0.52-0.60 for every $1 per barrel rise in the price of crude oil for OMCs to maintain normal marketing margins on the sale of auto fuels. The price of Brent crude has risen by about $28.4 per barrel since November 4 to $108.9 per barrel, indicating that fuel prices could see further hikes of Rs 5.5-7.8 per litre each on petrol and diesel at the current price of Brent Crude.
Oil prices clawed back some losses on Thursday after tumbling more than 5 per cent to a three-week low in the previous session after consuming nations announced a huge release of oil from emergency reserves to offset supply lost from Russia. Brent crude futures climbed $1.32, or 1.3 per cent, to $102.39 a barrel at 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose $1.18, or 1.2 per cent, to $97.41 a barrel.
Petrol, Diesel Prices on Tuesday, April 7 in Delhi, Mumbai and Other Cities in India
Delhi
Petrol – Rs 105.41 per litre
Diesel – Rs 96.67 per litre
Mumbai
Petrol – Rs 120.47 per litre
Diesel – Rs 104.72 per litre
Kolkata
Petrol – Rs 115.08 per litre
Diesel – Rs 99.82 per litre
Chennai
Petrol – Rs 110.89 per litre
Diesel – Rs 100.98 per litre
Bhopal
Petrol – Rs 109.78 per litre
Diesel – Rs 93.32 per litre
Hyderabad
Petrol – Rs 118.07 per litre
Diesel – Rs 101.14 per litre
Bengaluru
Petrol – Rs 111.25 per litre
Diesel – Rs 94.81 per litre
Guwahati
Petrol – Rs 105.57 per litre
Diesel – Rs 91.36 per litre
Lucknow
Petrol – Rs 105.25 per litre
Diesel – Rs 96.83 per litre
Gandhinagar
Petrol – Rs 105.29 per litre
Diesel – Rs 99.61 per litre
Thiruvananthapuram
Petrol: Rs 117.52
Diesel – Rs 103.91 per
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