Petrol prices up again; rise by Rs 7.2 per litre in 12 days

New Delhi, April 2, 2022

State-run oil marketing companies raised petrol and diesel prices for the tenth time in the last 12 days on Saturday.

Consequently, in the past 12 days, petrol prices have increased by Rs 7.2 per litre in the national capital.

These prices were revised for the first time on Tuesday, March 22, after a gap of more than four months.

On Saturday, the prices of petrol and diesel in New Delhi were increased again by 80 paise per litre.

Petrol now costs Rs 102.61 per litre and diesel Rs 93.87 per litre in the national capital.

In financial capital Mumbai, prices were hiked to Rs 117.57 per litre for petrol and diesel to Rs 101.79 per litre.

In Kolkata, petrol prices rose to Rs 122.19 and diesel to Rs 97.02 per litre. In Chennai, petrol now costs Rs 108.21 and diesel Rs 108.21 per litre.

Till last Tuesday, fuel prices were steady since November 2021 when the Centre had reduced excise duty on petrol and diesel by Rs 5 and Rs 10 per litre, respectively.

The OMCs revise the transportation fuel cost based on various factors such as rupee to US dollar exchange rate, cost of crude oil and demand of fuel amongst others. The final price includes excise duty, value added tax and dealer's commission.

Lately, crude oil prices have been volatile on fears of tight supplies due to sanctions against Russia.

IANS