Petrol Price, Diesel Price Today: Fresh Fuel Rates Announced; Know How Much You Have to Pay

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Brent crude futures jumped $2.43, or 2.3 per cent, to $109.07 a barrel at 0141 GMT, after surging nearly 9 per cent on Thursday in the largest percentage gain since mid-2020.

Petrol, Diesel Price Today: Petrol price today in India remained unchanged, while diesel price was also kept constant across the nation on the day. Petrol prices in cities such as New Delhi, Kolkata, Mumbai, Chennai, and Bangalore will remain static on March 17, 2022 despite oil prices remaining high. Crude oil prices in the global markets had seen a steep rise amid the Russia Ukraine war, and have been much costlier than before. India’s fuel prices have remained constant despite this. However, now there are speculations that fuel prices may see a substantial hike. There are chances that OMCs may increase city-wise prices soon.

In Delhi, petrol costs Rs 95.41 a litre while the rate of diesel was Rs 86.67 per litre. In Mumbai, petrol can be bought at Rs 109.98 per litre and diesel costs Rs 94.14 for one litre.

In Chennai, a litre of petrol is priced at Rs 101.40. On Tuesday, the price of a litre of diesel was Rs 91.43 per litre. Petrol in Kolkata costs Rs 104.67 per litre while diesel costs Rs 101.56 a litre.

In Delhi, fuel is relatively cheaper than the rest of the metros because the state government had earlier decided to reduce the Value-Added Tax (VAT) on petrol, bringing down the price of the fuel in the city by about Rs 8 per litre.

Earlier, the petrol price in Delhi was higher as compared to the NCR cities in Uttar Pradesh and Haryana, where the state governments had announced a VAT cut following the Centre reducing the excise duty on fuel prices.

The Centre had on the eve of Diwali, announced an excise duty cut on fuels resulting in a sharp decrease in petrol and diesel prices across the country. The government had cut the price of petrol by Rs 5 and that of diesel by Rs 10. Following this decision, several states, mostly ruled by National Democratic Alliance (NDA) and allies have also cut the Value Added Tax (VAT) on petrol and diesel prices. Opposition-ruled Punjab and Rajasthan also followed the cue to announce the biggest reduction in petrol prices.

Oil prices extended their rally on Friday at the end of a third volatile week of trade as there was slim progress in peace talks between Russia and Ukraine, as per Reuters. Brent crude futures jumped $2.43, or 2.3 per cent, to $109.07 a barrel at 0141 GMT, after surging nearly 9 per cent on Thursday in the largest percentage gain since mid-2020. U.S. West Texas Intermediate (WTI) crude futures climbed $2.75, or 2.7 per cent, to $105.73 a barrel, adding to an 8 per cent jump on Thursday.

Check out the Petrol and Diesel Prices Across Major Cities in India on March 18, 2022

Mumbai

Petrol – Rs 109.98 per litre

Diesel – Rs 94.14 per litre

Delhi

Petrol – Rs 95.41 per litre

Diesel – Rs 86.67 per litre

Chennai

Petrol – Rs 101.40 per litre

Diesel – Rs 91.43 per litre

Kolkata

Petrol – Rs 104.68 per litre