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The cost of petrol and diesel have remained unchanged for the last 40 days now on Sunday, May 15, 2022. Ever since the end of a four-and-a-half-month long hiatus in rate revision on March 22, rates of petrol and diesel have increased by ₹10 per litre each due to 14 revisions. It is important to note that the petrol and diesel prices were last hiked by 80 paise a litre each on April 6, taking the total increase in rates in 16 days to ₹10 per litre.
As per the price notification of state fuel retailers, petrol in Delhi costs ₹105.41 per litre while diesel rates costs ₹96.67. While in Gurugram, one litre of petrol will cost ₹105.86 and ₹97.10 for one litre of diesel.
In Chennai, the petrol and diesel prices are at ₹110.85 and ₹100.94 per litre. In Kolkata, the price of petrol is ₹115.12 and diesel is ₹99.83. In Bengaluru, one litre of petrol will cost ₹111.09 and one litre of diesel will cost ₹94.79.
Meanwhile, in a related development, India on Saturday banned wheat exports days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high. Rising fuel, labour, transportation and packaging costs are also boosting the price of wheat flour in India.
The government said it would still allow exports backed by already issued letters of credit and to countries that request supplies "to meet their food security needs."
The move to ban overseas shipments was not in perpetuity and could be revised, senior government officials told a press conference. Global buyers were banking on supplies from the world's second-biggest wheat producer after exports from the Black Sea region plunged following Russia's Feb. 24 invasion of Ukraine. Before the ban, India had aimed to ship a record 10 million tonnes this year. The officials added that there was no dramatic fall in wheat output this year, but unregulated exports had led to a rise in local prices.
(With inputs from agencies)
