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Petrol and diesel prices rose for the fifth time in six days today. Check out new rates


Today’s gasoline and diesel prices have once again raised fuel prices by at least 50 pax per liter across the country.

Via : Automatic table HT
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Update on:
March 27, 2022, 07:58 am

Motorcyclists line up to get gas at a petrol pump station in Navi Mumbai.  (PTI file) (HT_PRINT)
Motorcyclists line up to get gas at a petrol pump station in Navi Mumbai. (PTI file) (HT_PRINT)

Gasoline and diesel prices continued to rise on Sunday as fuel prices hit new highs today across India. This is the fifth increase in the past six days, bringing gasoline and diesel prices up overall 3.70 per liter. Gasoline prices today increased by 50 paise per liter while diesel prices today increased by 55 paise per liter.

Petrol price in Delhi today is at 99.11 per liter versus 98.61 ago. Diesel prices in Delhi have increased from 89.87 per liter to 90.42. In Mumbai, the price of petrol today is at 113.88 after an increase of 53 paise/litre. The price of diesel in Mumbai today increased by 58 paise/litre, bringing the price up 98.13 per liter. In Kolkata, the price of petrol has been increased today 108.53 per liter, while the price of diesel will cost 93.57 per liter. In Chennai, the price of gas is 104.90 while diesel price currently stands at 95.00 per liter.

This is the fifth increase in the past six days by oil companies since they began adjusting fuel rates on March 22. Overall, gasoline prices have increased. 3.70 per liter and diesel by 3.75 in six days. Before that, petroleum companies kept the adjustment of gasoline and diesel prices unchanged for nearly 5 months. In the last four price hikes, gasoline and diesel prices have jumped 80 pounds per liter, making them their biggest single-day gains since the daily price correction began five years ago.

According to Moody’s Investors Services, oil companies lost about $2.25 billion (estimated to 19,000 crore) revenue from holding petrol and diesel prices in the last 4 and a half months. According to Kotak Institutions Equities, oil companies demand an increase in the price of diesel by 13.1-24.9 per liter and 10.6-22.3 a liter of gasoline with a base raw price of $100-120 a barrel. CRISIL Research reported a Retail prices would increase by 9-12 per liter to move off an average of $100 per barrel of crude.

Date of first publication: March 27, 2022, 07:58 AM IST



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