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The prices of petrol and diesel have remained unchanged for the last 17 days on Saturday, 23 April. Petrol and diesel prices were last hiked by 80 paise a litre each on 6 April,Wednesday, taking the total increase in rates in 16 days to 10 per litre.

Petrol in Delhi costs 105.41 per litre while diesel rates costs   96.67, according to a price notification of state fuel retailers.In Gurugram, one litre of petrol will cost 105.86 and 97.10 for one litre of diesel.

State-owned fuel retailers IOC, BPCL and HPCL may suffer marketing losses in January-March 2022 quarter for holding petrol and diesel prices despite a rise in cost but robust core refining margins and windfall inventory gains should mitigate the potential losses in near term, Fitch Ratings said on 19 April.

The three fuel retailers kept petrol and diesel prices unchanged for a record 137-days between November 2021 and March 2022 despite a nearly USD 27 per barrel rise in crude oil prices. The three companies raised the rates by 10 per litre over 16 days beginning March 22 before again hitting a pause button.

"Gasoline (petrol) and gasoil (diesel) retail prices in India, and consequently the marketing margins of the oil-marketing companies (OMCs), should remain aligned with the movement in crude oil prices over the long term, notwithstanding sporadic periods of constant retail prices amidst heightened volatility in oil prices," Fitch said in a note.

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.

Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.

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