Home / News / India /  Petrol, diesel prices increased today after a gap of more than four months. Check rates in four metro cities

The rate of petrol and diesel prices were hiked in India on Tuesday after a gap of four months. The price of both petrol and diesel was hiked by 80 paise per litre. The rate of petrol in the country's capital Delhi is 96.21 per litre today while that of diesel is 87.47 per litre.  Petrol in Delhi will now cost 96.21 per litre as against 95.41 previously while diesel rates have gone up from 86.67 per litre to 87.47.

In the country's financial capital Mumbai, the petrol and diesel prices have increased to 110.82/litre and 95.00per litre, respectively. As for Kolkata and Chennai, petrol and diesel cost 105.51 and 90.62 and 102.16 and 92.19 respectively in Chennai.

The latest price increase means consumers will pay less than 1% more at the pump, despite a substantial increase in global oil prices since the conflict in Ukraine began last month, and a falling Indian rupee.

The rise in crude oil prices put huge pressure on the Indian economy. High crude oil prices pose inflationary, fiscal, and external sector risks. India's budget calculations for the financial year 2022-23 have been made with an assumption of crude oil price of $70 to $75 per barrel.

Also, the price of domestic cooking gas (LPG) was hiked by 50 per cylinder in line with a spike in international energy prices, sources said.

A 14.2-kg non-subsidised LPG cylinder will now cost 949.50 in the national capital.

Earlier, the price of diesel sold to bulk users has been hiked by about 25 per litre in line with a near 40 percent rise in international oil prices. The price of petrol and diesel in Delhi at 96.21 per litre and 87.47 per litre respectively today

India, the world's third biggest oil importer and consumer, ships in about 85% of its oil needs from overseas markets.

Its local diesel and petrol prices are linked to international prices of the two fuels, which directionally follow increases in crude oil prices.

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