Petrol, Diesel Prices Today (March 22): Check city-wise fuel rates across India

Petrol and diesel prices remain unchanged on March 22 across major cities, offering relief to consumers, while global crude oil volatility and rising industrial fuel costs keep markets cautious.

New Delhi: On March 22, petrol and diesel prices remained unchanged in India as consumers got some respite from rising fuel prices. However, global crude oil volatility has put pressure on fuel prices which witnessed premium variants going above the Rs 100-mark in some cities.

Petrol And Diesel Prices Unchanged Today (March 22)

India Today reports quoting state-owned fuel retailers that retail petrol and diesel prices have remained unchanged in all cities on March 22. Petrol price in Delhi is at Rs 94.77 per litre while diesel rates are at Rs 87.67 per litre.

This is despite volatility seen in global crude oil prices due to increasing tensions in West Asia recently.

Petrol Price in Metro Cities Today (March 22)

Petrol and diesel prices remain unchanged across metro cities too.

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Here are petrol diesel prices in metro cities:

Delhi: Petrol Rs 94.77 | Diesel Rs 87.67
Mumbai: Petrol Rs 103.50 | Diesel Rs 90.03
Bengaluru: Petrol Rs 102.92 | Diesel Rs 90.99
Chennai: Petrol Rs 100.80 | Diesel Rs 92.39
Kolkata: Petrol Rs 105.41 | Diesel Rs 92.02

Petrol and diesel price varies from state to state depending on the local VAT, transportation cost and other taxes.

Why are fuel prices Under Pressure?

The international oil market is experiencing volatility due to rising crude oil prices. West Asia tensions continue to plague crude oil markets sending crude prices soaring which is keeping petrol and diesel prices under pressure. Oil marketing companies had to keep prices unchanged today despite rising input costs following hikes in premium petrol variants like XP95 and Speed by over Rs 2 per litre in recent days.

Crude oil prices breaching US $80 per barrel has already impacted petrol prices which have crossed Rs 100 per litre in some premium variants across metros.

Diesel Price Hits New High In Bulk Segment

While retail prices have been held back by state-owned fuel retailers today, diesel prices have witnessed record highs in bulk purchase categories. Industry insiders have reported that diesel prices for bulk purchasers like industries have witnessed a jump of Rs 21.73 per litre.

If diesel prices continue to increase in the bulk sector, it will affect various sectors including transportation eventually increasing prices of essential commodities.

Consumers Should Keep An Eye On..

Petrol and diesel prices may continue to hold steady for now, but the situation can change if crude oil prices soar further in the international markets. Oil marketing companies can consider raising petrol and diesel prices if crude oil prices rally further.

Petrol and diesel prices in India are benchmarked against international prices and are revised every day.

Petrol And Diesel Price Stayed Still: Bottom Line

For now, consumers can sigh in relief as petrol and diesel prices have remained unchanged on March 22. Global crude oil prices need to stabilise and come down further for prices to remain unchanged in India. High crude prices can further put petrol and diesel retail prices under pressure forcing oil marketing companies to revise rates further.

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The Times Of Bengal