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.
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
