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Fuel prices hiked today after a gap of more than 4 months. Check rates in other metro cities

By Ruchi Upadhyay 
Updated Date

NEW DELHI: After the hike in domestic LPG cylinder prices, petrol and diesel prices have also been increased by more than 80 paise/litre for the first time since November 2, 2021. It may be recalled that the state-run Indian oil companies have not raised the fuel prices since November 4.

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After the latest hike, petrol and diesel will now cost Rs 96.21 per litre and Rs 87.47 per litre respectively in Delhi from Tuesday (March 22, 2022). Similarly, petrol and diesel prices per litre in Mumbai will cost Rs 110.82 and Rs 95.00 in Mumbai; Rs 105.51 & Rs 90.62 in Kolkata; Rs 102.16 & Rs 92.19 in Chennai.

This hike in petrol and diesel prices comes after nearly 137 days. The latest price increase means consumers will pay less than 1% more at the pump, despite a substantial increase in global oil prices since the conflict in Ukraine began last month, and a falling Indian rupee.

Cities Petrol Diesel
Delhi ₹96.21 ₹87.47
Mumbai ₹110.82 ₹95.00
Kolkata ₹105.51 ₹90.62
Chennai ₹102.16 ₹92.19

One of the dealers said there could be a regular increase in pump prices. Indian state-run oil companies have not raised prices since November 4 – a move observers said had aided Prime Minister Narendra Modi`s ruling Bharatiya Janata Party (BJP) in crucial state assembly elections.

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The Narendra Modi government took a series of duty cuts to keep the fuel rates unaffected despite volatility in the international crude oil market. It may be mentioned that the crude oil prices have shot up over 25 per cent since the last hike in November.

India, the world`s third-biggest oil importer and consumer, ships in about 85% of its oil needs from overseas markets. Its local diesel and petrol prices are linked to international prices of the two fuels, which directionally follow increases in crude oil prices.

Further, putting more pressure on millions of Indian consumers, the price of domestic LPG cylinder has also been hiked by over Rs 50 in Delhi, Mumbai, the first hike since October 6, 2021.

In Delhi, an LPG cylinder will cost Rs 949.50, while in Kolkata, you will have to shell out Rs 976. In Chennai, it will cost Rs 965.50 and in Lucknow, it will set you back by Rs 987.50.

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