A litre of petrol in Delhi will now cost Rs 97.01, while diesel will be sold at Rs 88.27.Petrol, Diesel Prices Today:Petrol and diesel prices on Wednesday were hiked by 80 paise a litre each for the second day in a row.
A litre of petrol in Delhi will now cost Rs 97.01, while diesel will be sold at Rs 88.27, according to a price notification of state fuel retailers.In Mumbai, petrol will be retailed at Rs 111.67 per litre, while diesel is being sold at Rs 95.85 per litre.
Among the metro cities, fuel rates are still the highest in Mumbai.
Fuel prices vary across the states due to VAT.The rates were held steady for over four months despite the spike in crude oil prices.
The rate revision ended yesterday (March 22) with a similar hike.(AlsoRead:How To Check Latest Petrol And Diesel Rates In Your City).Here are the petrol and diesel price across the metro cities:State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates.
Any changes in petrol and diesel prices are implemented with effect from 6 am every day.India is 85 per cent dependent on imports to meet its oil needs and, the domestic petrol and diesel prices are linked to international rates.According to CRISIL Research, a hike of Rs 15-20 per litre is required to fully pass the increase in international oil prices.Globally, oil prices turned higher today, erasing losses from the previous session, after industry data showed U.S.
crude stocks fell last week, underlining how tight global supplies are amid the hit to Russian output from economic sanctions on Moscow.
Brent crude futures climbed $1.06, or 0.9 per cent, to $116.54 a barrel, after falling 14 cents in the previous session.
U.S.
West Texas Intermediate (WTI) crude futures rose 87 cents, or 0.8 per cent, to $110.14 a barrel, after losing 36 cents on Tuesday.