Fuel price: Petrol, diesel prices inch up 80 paise per litre, CNG hiked Rs 2.5 a kg

This apart, Indraprastha Gas Limited (IGL) hiked the price of compressed natural gas (CNG) by Rs 2.50 per kg in Delhi.

Following the latest price revision, petrol in Delhi is now retailing at Rs 105.41 a litre while diesel is selling at Rs 96.67. In the financial capital Mumbai, petrol price now stands at Rs 120.51 while diesel costs Rs 104.77, data available on Indian Oil Corporation’s website showed.

So far in April, both petrol and diesel have been hiked by Rs 3.60 per litre in the national capital. Last month, they were raised by Rs 6.40 per litre after witnessing nine hikes in a span of ten days when daily revisions in auto fuel prices resumed following a gap of a record 137 days on March 22.

Petrol and diesel prices in the country differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.

OMCs revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days and foreign exchange rates.

CNG price hiked

The spike in CNG price comes barely two days after a similar Rs 2.50 per kg hike in the price.

Following the latest price revision, CNG price in Delhi now stands at Rs 66.61 per kg, according to information available on the website of IGL.

In Noida, Greater Noida and Ghaziabad, the revised CNG price is Rs 69.18 per kg, while in Muzaffarnagar, Meerut and Shamli, the revised CNG price is Rs 73.86 per kg the revised CNG price in Gurugram is Rs 74.94 a kg and in Rewari it is Rs 77.07 per kg. In Karnal and Kaithal, the revised CNG price is Rs 75.27 per kg while the revised CNG price in Kanpur, Hamirpur and Fatehpur is Rs 78.40 a kg. In Ajmer, Pali and Rajsamand, the revised CNG price is Rs 76.89 per kg.

This is the eighth increase in CNG prices in the last month. In all, rates have gone up by about Rs 9 per kg.

Global prices

In the international market, oil futures were mixed on Wednesday, recovering from early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in US crude stockpiles and Shanghai’s extended lockdown, news agency Reuters reported.

Brent crude futures were up 11 cents (0.1 per cent) at $106.75 a barrel, having fallen to $105.06 earlier in the session. US West Texas Intermediate futures fell 11 cents (0.1 per cent) to $101.85 a barrel, after dipping to as low as $100.37 in an early trade, the report said.

Here’s what you pay for a litre of petrol and diesel in your city on Wednesday, April 6, 2022: