Fuel Rates hike for the 12th time in 14 days, increase by 40 paise per liter

In India, the fuel rates are increasing regularly since March 22, 2022, after a pause on November 4, 2021. On Monday, April 4, 2022, the rates for one liter of petrol and diesel have increased by 40 paise each. So far, the fuel rates have increased by Rs. 8.40 in the last 14 days with a twelfth hike. 

OMCs revise fuel rates regularly 

The prices of petrol and diesel are hiked by public sector OMCs like Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, and Hindustan Petroleum Corporation Limited keeping in view the benchmark international fuel price and foreign exchange rate. As per Kotak Institutional Equities, "Oil companies will need to raise diesel prices by ₹13.1-24.9 per liter and ₹10.6-22.3 a liter on gasoline (petrol) at an underlying crude price of USD 100-120 per barrel."

Fuel Rates in different cities 

After today's hike, the price for one liter of petrol and diesel in the national capital has reached Rs. 103.81 and Rs. 95.07 respectively. In Mumbai, the petrol prices have increased by 42 paise and reached ₹118.83 for one liter of petrol, and diesel prices are increased by 43 paise and reached ₹103.07 per liter. 

Meanwhile, in Chennai, petrol and diesel are retailing at ₹109.34 and ₹99.42 per liter respectively. In Kolkata, the price of petrol is hiked by 42 paise and reached ₹113.45 per liter and diesel price has reached ₹98.22 per liter after an increase of 40 paise. In Bengaluru, petrol is selling at ₹109.41 per liter and diesel is retailing at ₹93.23 per liter.