Gasoline, Diesel Prices Today: Fuel prices were again increased on Sunday, April 3, 2022, by 80 paise each in the four subways. This is the eleventh price hike since they were first raised on March 22, ending a 4.5-month freeze since November 4, 2021.
With the latest increase, petrol prices in metros have increased by Rs 8 per litre. In the capital, petrol now costs Rs 103.41 per liter compared to Rs 102.61 previously. Diesel prices have risen from Rs 93.87 per liter to Rs 94.67, according to a report from state fuel retailers.
Fuel prices are still the highest in Mumbai of the four metro cities. Petrol costs Rs 118.41 per liter while diesel costs Rs 102.64 per liter in the commercial capital of the country.
Rates have been increased across the country and vary from state to state depending on the degree of local taxes.
Fuel prices remained unchanged on Friday, April 1, 2022 after rising for eight consecutive days.
These are the petrol and diesel prices in metro cities:
Prior to the hikes that began on March 22, fuel prices had been frozen for a record 137 days since November 4, 2021. During this period, parliamentary elections were held in the politically crucial states of Uttar Pradesh, Punjab, Uttarakhand, Goa and also Manipur.
Also during this period, crude oil prices rose by $30 a barrel, but prices remained unchanged in the country.
State-run oil refineries such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel tariffs daily, taking into account crude oil prices in international markets and rupee-dollar exchange rates. Any changes in petrol and diesel prices will be implemented daily from 6am.
India is 85 percent dependent on imports to meet its oil needs and domestic gasoline and diesel prices are linked to international tariffs.
Meanwhile, on April 2, Brent crude futures stood at $104.35 a barrel, slightly below the April 1 level. This was mainly due to the fact that members of the International Energy Agency (IEA) agreed to join the largest oil reserves ever in the United States. release.
US President Joe Biden had announced on March 31 a release of one million barrels per day (bpd) of crude oil for six months from May 2022.