Economy

Petrol and Diesel Prices Increased for The Sixth Time in Seven Days

By keeping fuel prices the same in March, Indian fuel retailers lost around Rs 19,000 crore.

Fuel prices have risen for the sixth time in seven days, with recent revisions resulting in a Rs 30 per litre increase in petrol and a Rs 35 per litre increase in diesel. Since last week, this has resulted in an overall increase of Rs 4.

Read Also: Today’s petrol-diesel prices: About Rs 100 for petrol and Rs 90 for diesel in Delhi, know how expensive oil became

  • Petrol, diesel at Rs 114.19 and Rs 98.50 per litre in Mumbai, respectively
  • Ukraine crisis affecting rates in India adversely
  • CNG costs Rs 66 per kg in Mumbai, Rs 60 per kg in Delhi
Petrol and Diesel Prices Increased for The Sixth Time in Seven Days
Petrol and Diesel Prices Increased for The Sixth Time in Seven Days

Since November 2021, there has been a pause in fuel rate revisions; however, with Russia’s invasion of Ukraine, prices have begun to rise again. Because India imports nearly 85% of its energy, a slight fluctuation in international prices would have an impact here as well.

Read Also: Prices of gasoline and diesel have risen for the first time since November 2021; see current fuel prices here

Petrol and diesel prices were raised by Rs 50 paise per litre and Rs 55 paise per litre, respectively, on Sunday. Following Monday’s increase, petrol now costs Rs 99.41 per litre in Delhi, while diesel costs Rs 90.77 per litre.

Petrol has risen to Rs 114.19 per litre in Mumbai, while diesel has risen to Rs 98.50 per litre.

Petrol and Diesel Prices Increased for The Sixth Time in Seven Days
Petrol and Diesel Prices Increased for The Sixth Time in Seven Days

According to a Moody’s report, despite a sharp rise in crude oil prices internationally, fuel retailers IOC, BPCL, and HPCL collectively lost around $2.25 billion (roughly Rs 19,000 crore) in revenue in March by keeping petrol and diesel prices unchanged.

Read Also: Even if oil averages $100, inflation will be below 6%: Crisil

CNG is Also on The Rise

Last week, CNG prices were increased by Rs 50 per cylinder, and the Delhi government increased the price of Piped Natural Gas (PNG) by Rs 1 per unit, bringing it to Rs 36.61 per unit. CNG costs Rs 66 per kilogramme in Mumbai and Rs 60.01 per kilogramme in Delhi.

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