Petrol and diesel price March 31: Fuel costs rise by Rs 6.4 per litre after 9 rate hikes in 10 days
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were increased for the ninth time in 10 days by oil marketing companies (OMC). Fuel rates have now increased by roughly Rs 6.40 per litre after OMC hiked prices for the first time last Tuesday. Petrol in the National Capital of Delhi currently retails at Rs 101.81 per litre up from Rs 101.01 per litre yesterday, an increase of 80 paise from yesterday while diesel in the city is priced at Rs 93.07 up from Rs 92.27, an increase of 80 paise from yesterday. In Mumbai, a litre of petrol and diesel cost Rs 116.72 and Rs 100.94, respectively. Pieces were hiked last week for the first time in 4 months. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
OMCs had earlier, neither raised nor reduced petrol and diesel rates for more than 100 days, while international oil prices were volatile. Prices have increased across states but the magnitude of the revision in prices varies from state to state. Any changes in petrol and diesel prices are implemented with effect from 6 am every day. Retail petrol, diesel prices differ from state to state on account of local taxes like VAT or freight charges. Analysts had expected an increase in fuel rates as crude oil prices were hurting the government’s kitty.
Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
Mumbai: Petrol price: Rs Rs 116.72 per litre, Diesel price: 100.94 per litre
Delhi: Petrol price: Rs 101.81 per litre, Diesel price: Rs 93.07 per litre
Chennai: Petrol price: Rs 107.45 per litre, Diesel price: Rs 97.52 per litre
Kolkata: Petrol price: Rs 111.35 per litre, Diesel price: Rs 96.22 per litre
Crude Oil prices slip
Crude oil prices were seen moving southward on Thursday morning as reports suggested the US government was planning to release around 1 million barrels of oil per day from reserves. The supply of crude oil remains tight hence prices moved higher earlier in the week. Brent crude futures were down $4.71 or 4.2% to trade at $108.58 per barrel after having traded as high as $112.78 per barrel yesterday. U.S. West Texas Intermediate (WTI) crude futures slipped $5.45 to trade at $102.74 a barrel.