Fuel price hike: Petrol, diesel prices to increase after 137 days

After staying unchanged for over four months, the prices of petrol and diesel are set to see a price hike on Tuesday (March 22). Fuel prices are set to see a hike of 80 paise per litre. This comes after petrol and diesel prices in the country have been unchanged for 137 days.

This would be the first fuel price hike since November 2021, news agency Reuters reported as having been informed by two retailers.

This follows after the price of diesel for bulk users was increased by Rs 25 per litre on Sunday (March 20).

How the new price hike will affect petrol, diesel prices in major cities?

After the fresh round of Rs 0.8 hike, petrol in Delhi will cost Rs 96.21 which diesel will cost Rs 87. 47. In Mumbai, petrol would cost Rs 110.78 while diesel would stand at Rs 94.94. The price of petrol in Chennai would increase to Rs 102.20 while diesel will cost Rs 92.23. In Kolkata, petrol will cost Rs 105.47 and diesel Rs 90.59 per litre. Price of petrol in Bengaluru will now be Rs 101.38 and diesel will be Rs 85.81 per litre.

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The latest petrol, diesel price hike now means that consumers across India will have to shell out more for fuel, but the increase will still be less than 1% of the amount being currently paid at pumps for a litre. This is India’s first fuel hike since the global oil prices skyrocketed after Russia invaded Ukraine last month.

India, the third largest oil importer and consumer in the world, relies on fuel from overseas for 85% of its requirement.