Petrol and diesel prices remained unchanged in the country on Thursday, March 10. However, global oil prices fell on Wednesday by the most in nearly two years after OPEC member the United Arab Emirates said it supported pumping more oil into a market roiled by supply disruptions due to sanctions on Russia after it invaded Ukraine.
In Delhi, petrol costs Rs 95.41 a litre while the rate of diesel was Rs 86.67 per litre. In Mumbai, petrol can be bought at Rs 109.98 per litre and diesel costs Rs 94.14 for one litre.
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Meanwhile, Petrol in Kolkata costs Rs 104.67 per litre while diesel costs Rs 101.56 a litre. The price of petrol in Chennai has remained steady today at Rs 101.40 per litre, while the price of diesel has remained unchanged at Rs 91.43 per litre.
Till now the government has been keeping the fuel rates steady for over four months in the run-up to assembly elections in five states, including Uttar Pradesh. Yesterday, there were reports that an imminent increase in petrol and diesel prices has been put on wait-and-watch mode for more clarity on global oil prices. Today, the assembly election results of 2022 will be announced. Following this, a hike in petrol and diesel prices are expected.
Meanwhile, ATF prices have seen a sharp increase of around 57 per cent on a year-on-year basis till March 2022. It is mainly attributed to increasing in crude oil prices. ATF prices, one of the biggest cost components for airlines, have climbed to Rs 19,508.25 per kilo-litre (kl), since December 15 in New Delhi. The latest increase of 3.22 per cent on March 1 took ATF to Rs 93,530.66 per kl in the national capital.
However, what comes as a sigh of relief for the global markets is that Brent crude futures settled down $16.84, or 13.2 per cent, at $111.14 a barrel, their biggest one-day decline since April 21, 2020. U.S. crude futures ended down $15.44, or 12.5 per cent, at $108.70, their biggest daily decline since November, news agency Reuters reported. “We favor production increases and will be encouraging OPEC to consider higher production levels,” Ambassador Yousuf Al Otaiba said in a statement tweeted by the UAE Embassy in Washington.
The UAE and neighbour Saudi Arabia are among the few members of the Organization of the Petroleum Exporting Countries with spare capacity that could increase output. The United States has called on oil producers worldwide to increase production if they can.
Additional supply from OPEC could compensate for some supply shortfalls created by disruption to Russia’s oil sales by economic sanctions imposed by the United States and other governments.
Check out the Petrol and Diesel Prices Across India on March 9, 2022
Mumbai
Petrol – Rs 109.98 per litre
Diesel – Rs 94.14 per litre
Delhi
Petrol – Rs 95.41 per litre
Diesel – Rs 86.67 per litre
Chennai
Petrol – Rs 101.40 per litre
Diesel – Rs 91.43 per litre
Kolkata
Petrol – Rs 104.67 per litre
Diesel – Rs 89.79 per litre
Bhopal
Petrol – Rs 107.23 per litre
Diesel – Rs 90.87 per litre
Hyderabad
Petrol – Rs 108.20 per litre
Diesel – Rs 94.62 per litre
Bangaluru
Petrol – Rs 100.58 per litre
Diesel – Rs 85.01 per litre
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