Petrol, Diesel Price Today: Petrol and diesel prices remained unchanged on March 21 in Delhi, Mumbai, Kolkata, and Chennai, a notification issued by state-owned fuel retailers showed. Petrol prices in cities such as New Delhi, Kolkata, Mumbai, Chennai, and Bangalore will remain static today despite oil prices remaining high. However, hostilities between Russia and Ukraine, along with sustained demand, is expected to keep global crude oil prices high for some more time. India imports more than 80 per cent of the oil requirement. It is feared that the war will spill over into India’s retail fuel prices soon. Experts earlier were of the view that the geopolitical crisis would push India’s domestic prices of petrol and diesel up by Rs 15-22 per litre. It was also expected that an excise duty cut may dampen the impact on petrol and diesel prices, but only to an extent.
In Mumbai, a cut on November 4 had reduced the price of petrol to Rs 109.98 a litre, and diesel to Rs 94.14 a litre.
Delhi had reduced the local sales tax, or the value-added tax (VAT), on petrol from 30 to 19.4 per cent from December 1 midnight, bringing down the price by around Rs 8 to Rs 95.41 per litre for petrol. Diesel is at Rs 86.67 per litre.
In Kolkata, petrol and diesel prices remained at Rs 104.67 and Rs 89.79. In Chennai, petrol costs Rs 101.40 and diesel is sold at Rs 91.43.
In Noida, petrol sold for Rs 95.51 per litre and diesel Rs 87.01 per litre. In Lucknow, petrol costs Rs 95.28 and diesel Rs 86.80 per litre. In Jaipur, petrol costs Rs 107.06 per litre and diesel Rs 90.70 per litre. In Gurugram, petrol is at Rs 95.59 per litre and diesel at Rs 86.81 per litre.
On March 20, the price of diesel sold to bulk users was raised by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices.
War Driving Oil Prices Upwards
Oil prices jumped $2 on Monday as Ukrainian forces dug in against heavy Russian attacks, while major oil producers reported they are struggling to produce their allotted quotas under a supply agreement. Brent crude futures climbed $1.96, or 1.8 per cent, to $109.89 a barrel at 0039 GMT, adding to a 1.2 per cent rise last Friday. U.S. West Texas Intermediate (WTI) crude futures rose $2.09, or 2 per cent, to $106.79, extending a 1.7 per cent jump last Friday.
Prices moved higher after Ukraine’s deputy prime minister, Iryna Vershchuk said early on Monday there was no chance that the country’s forces would surrender in the besieged eastern port city of Mariupol. With little sign of the conflict easing, the focus returned to whether the market would be able to replace Russian barrels hit by sanctions. In the last eight trading sessions, Brent oil per barrel has traded as high as $139 and as low as $98 – a spread of more than $40.
Check out the Petrol and Diesel Prices Across Major Cities in India on March 21, 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
Diesel – Rs 89.79 per litre
Bhopal
Petrol – Rs 107.23 per litre
Diesel – Rs 90.87 per litre
Hyderabad
Petrol – Rs 108.20 per litre
Diesel – Rs 94.62 per litre
Bengaluru
Petrol – Rs 100.58 per litre
Diesel – Rs 85.01 per litre
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