Petrol Prices Today: Fuel Rates Kept Unchanged After 14 Hikes In 16 Days

Petrol prices remained unchanged today
Petrol prices remained unchanged today

Petrol, Diesel Prices Today: Fuel prices were kept unchanged across metro cities on Thursday, April 7, 2022 after being hiked for five consecutive days and in all, 14 times in the past 16 days. In Delhi, a litre of petrol is being sold at Rs 105.41, while diesel is being sold at Rs 96.67 a litre.

In Mumbai, petrol is retailed at Rs 120.51 per litre while diesel is being sold at Rs 104.77 per litre. Fuel prices are the highest in Mumbai among all four metro cities. The prices vary across the states due to value-added tax (VAT).

Fuel rates were held steady for over four months despite the spike in crude oil prices. The rate revision had ended on March 22. In all, petrol and diesel prices have gone up by Rs 10 per litre, respectively, after 14 rate revisions.

Here are the petrol and diesel price across the metro cities:

City Petrol Diesel
Delhi 105.41 96.67
Mumbai 120.51 104.77
Chennai 110.85 100.94
Kolkata 115.12 99.83
Source: Indian Oil

Moody's Investors Services had stated that state retailers together lost around $2.25 billion (Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during the election period.

The rates were kept on hold amid the assembly elections in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.

State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.

India is 85 per cent dependent on imports to meet its oil needs and, the domestic petrol and diesel prices are linked to international rates.