Petrol and diesel price today, March 28, 2022: Fuel prices were increased for the sixth time in the last seven days as the cost of petrol in Delhi neared ₹100-mark. According to a price notification of state fuel retailers, petrol in Delhi will now cost ₹99.41 per litre, a 30-paisa increase, while diesel will cost ₹90.77, a 35-paisa hike from Sunday.
Petrol and diesel rates vary from state to state depending upon the incidence of local taxation.
In Mumbai, petrol and diesel are being sold at ₹114.19 and ₹98.50 per litre, while the price of petrol and diesel in Chennai is ₹105.18 and ₹95.33.
Petrol in Kolkata will now cost ₹108.85 and diesel at ₹93.92 per litre.
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On the first four occasions, fuel prices were increased by 80 paise per litre, the steepest single-day rise since the daily price revision was introduced in June 2017. On Sunday, petrol price went up by 50 paise a litre and diesel by 55 paise.
The revision in fuel prices was expected soon after the counting of votes was over on March 10.
{{/usCountry}}The revision in fuel prices was expected soon after the counting of votes was over on March 10.
{{/usCountry}}Moody's Investors Services said last week that state-owned fuel retailers – Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) – together lost around ₹19,000 crore in revenue for keeping petrol and diesel prices on freeze during the election period.
Oil companies "will need to raise diesel prices by ₹13.1-24.9 per litre and ₹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.