Petrol, Diesel Prices Today: There was no change in the prices of petrol and diesel in the country on Wednesday, March 16. petrol prices The situation in cities like New Delhi, Kolkata, Mumbai, Chennai and Bangalore will remain stable even today. Petrol in Delhi costs Rs 95.41 per liter while diesel costs Rs 86.67 per liter. Petrol in Mumbai can be bought at Rs 109.98 per liter and diesel at Rs 94.14 per liter.
The cost of a liter of petrol in Chennai is Rs 101.40. On Tuesday, the price of a liter of diesel was Rs 91.43 per litre. Petrol in Kolkata costs Rs 104.67 per liter while diesel costs Rs 101.56 per litre.
It is noteworthy that despite international crude prices hovering above $100 a barrel, prices have remained stagnant for more than four months as major crude oil producers pledged to bridge the supply gap caused by escalating Russia-Ukraine conflict. . However, now there are speculations that the fuel prices may see a steep hike. It is likely that OMCs may soon increase the prices city-wise.
On the eve of Diwali, the Center announced a cut in excise duty on the fuel, resulting in a sharp reduction in the prices of petrol and diesel 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 the National Democratic Alliance (NDA) and allies, have also cut Value Added Tax (VAT) on petrol. Diesel prices. Opposition-ruled Punjab and Rajasthan also announced the biggest cut in petrol prices.
Union Minister Hardeep Singh Puri told the Rajya Sabha on Monday that nine states, including Maharashtra and Kerala, have not reduced VAT on petrol and diesel. The Minister of Petroleum and Natural Gas also told the House that fuel prices have increased by more than 50 per cent in many countries, but have remained stable and increased by only 5 per cent in India during the pandemic.
“All elected representatives should be happy that the prices of petrol paid by the consumer have remained stable during the period from April 1, 2020 to March 31, 2021,” he told the House.
The Minister of Petroleum and Natural Gas on Monday said that India is ready to take all appropriate action to mitigate market volatility and quell the rise in crude oil prices.
Oil prices rose on Wednesday, having bounced back after falling more than $1 a barrel earlier, as Russia’s invasion of Ukraine dominates volatile trade with ceasefire talks, news agency Reuters reported. told. Brent futures were up 83 cents, or 0.8 per cent, at $100.74 a barrel by 0120 GMT. US West Texas Intermediate (WTI) crude rose 58 cents, or 0.6 per cent, to $97.02 a barrel. Both contracts had earlier lost over $1, with Brent falling to $98.86 a barrel and WTI lower to $94.90 a barrel.
Check Petrol and Diesel Prices across India as on March 16, 2022
Mumbai
Petrol – Rs 109.98 per liter
Diesel – Rs 94.14 per liter
Delhi
Petrol – Rs 95.41 per liter
Diesel – Rs 86.67 per liter
Chennai
Petrol – Rs 101.40 per liter
Diesel – Rs 91.43 per liter
Kolkata
Petrol – Rs 104.67 per liter
Diesel – Rs 89.79 per liter
Bhopal
Petrol – Rs 107.23 per liter
Diesel – Rs 90.87 per liter
Hyderabad
Petrol – Rs 108.20 per liter
Diesel – Rs 94.62 per liter
Bangalore
Petrol – Rs 100.58 per liter
Diesel – Rs 85.01 per liter
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