There has been no change in the prices of petrol and diesel after 16 days of increase. see rates here

Petrol, Diesel Prices Today:

Continuing on from yesterday’s hike, petrol in delhi cost will continue 105.41 per liter, as against 104.61 earlier, while diesel rates have increased 96.67 per liter from 95.87 per liter, as per the price notification of state-run fuel retailers.

Fuel rates have been increased across the country and vary from state to state based on local taxation incidents. Yesterday’s hike was the 14th increase in prices since the end of a four-and-a-half-month-long hiatus in the rate revision on March 22. Overall petrol and diesel prices have gone up 10 per liter each or 10.5%.

Petrol price in Delhi was 95.41 liters per liter before the revision cycle begins on March 22. Diesel rate hiked by 11.5% The rate of 86.67 per liter was prevalent before the 14 hike.

This comes in the wake of international oil prices, which rose to around USD 107 a barrel after Russia’s invasion of Ukraine, which was close to USD 140 per barrel, but fuel prices in India are rising as the state’s Holding rates for a record 137 days during elections in states like Uttar Pradesh and Punjab covered for proprietary fuel retailers.

Petrol and diesel prices have been hiked by 80 paise per liter for five consecutive days, taking the total 4 per liter – a record increase for any five days since the start of the daily price revision in June 2017.

According to price information available from state-owned fuel retailers, the increase in rates by even 10 liters in just a fortnight is the highest in any similar period in two decades.

Petrol prices have increased recently Diesel is above that level at many places in Maharashtra, Andhra Pradesh, Odisha, Chhattisgarh, Telangana, Madhya Pradesh, Bihar, Jharkhand, Tamil Nadu and Kerala.

Parbhani in Maharashtra has the most expensive petrol in the country 123.46L diesel is the most expensive in Chittoor, Andhra Pradesh. 107.61 per litre). Rates depend on local taxes as well as the freight for transporting the fuel.

Previously, the most expensive fuel was in Sri Ganganagar, the border town of Rajasthan. But the Rajasthan government, along with several other states, cut VAT on November 4, 2021, following the central government’s decision to reduce excise duty on petrol. 5 liters and bye 10 per liter on diesel.

Maharashtra and Andhra Pradesh were among more than half a dozen states that did not join to reduce the local sales tax (VAT). Diesel crossed on Wednesday 100 points in Chennai too.

Before the assembly elections in states like Uttar Pradesh and Punjab, prices were stable since November 4 – a period during which the price of raw materials (crude oil) rose by around USD 30 per barrel. The revision of rates was expected soon after the counting of votes on March 10, but was postponed by a couple of weeks.

The increase in retail price due to increase in crude oil prices during a span of 137 days is huge, but state-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd. HPCL) is passing. On the necessary increase in stages.

Moody’s Investors Services said last month that the state’s retailers together lost about USD 2.25 billion ( 19,000 crore in revenue to maintain the prices of petrol and diesel during the election period).

Oil companies will need to raise diesel prices 13.1-24.9 per liter and According to Kotak Institutional Equities, the underlying crude oil price of $100-120 per barrel on gasoline (petrol) is 10.6-22.3 per liter.

Crisil Research said On an average, a complete pass-through of USD 100 per barrel crude would require an increase of 9-12 per liter in the retail price and If the average price of crude oil rises to US$ 110-120 then an increase of Rs 15-20 per liter. India is 85% dependent on imports to meet its oil needs and hence retail rates adjust according to global movement.

(with inputs from agencies)