HomeEnergy NewsPetrol, diesel prices remain unchanged for 2nd time in 11 days

Petrol, diesel prices remain unchanged for 2nd time in 11 days

Petrol in Delhi is priced at 101.81 per litre and diesel at Rs 93.07. In Mumbai, the petrol and diesel prices per litre stood at Rs 116.72 and Rs 100.94 respectively.

Profile image

By CNBCTV18.com April 1, 2022, 9:19:12 AM IST (Published)

Petrol, diesel prices remain unchanged for 2nd time in 11 days
Petrol and diesel prices remain unchanged on Friday for the second time in 11 days. Since March 22, fuel prices have been hiked by Rs 6.40 per litre.


Petrol in Delhi is priced at 101.81 per litre and diesel at Rs 93.07, according to a price notification of state fuel retailers. In Mumbai, the petrol and diesel prices per litre stood at Rs 116.72 and Rs 100.94 respectively.

Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation. Rates are also dependent on freight.

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

Oil companies "will need to raise diesel prices by Rs 13.1-24.9 per litre and Rs 10.6-22.3 a litre on gasoline (petrol) at an underlying crude price of USD 100-120 per barrel," according to Kotak Institutional Equities. CRISIL Research said a Rs 9-12 per litre increase in retail price will be required for a full pass-through of an average USD 100 per barrel crude oil and Rs 15-20 a litre hike if the average crude oil price rises to USD 110-120.

India is 85 percent dependent on imports for meeting its oil needs and so retail rates adjust accordingly to the global movement.

With inputs from PTI
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!