Petrol and diesel prices on March 21: Check fuel rates in your city today

The key auto fuel prices in India have not changed in over four months despite a spike in the global crude oil prices that breached the three-figure mark and touched multi-year highs earlier this month amid the fallout of the Russia-Ukraine conflict.

The price of petrol in Delhi stands at Rs 95.41 per litre while that of diesel is at Rs 86.67. In Mumbai, petrol currently costs Rs 109.98, while diesel is retailing at Rs 94.14, data available on Indian Oil Corporation’s website showed.

However, the price of diesel sold to bulk users has been hiked by about Rs 25 per litre, but retail rates at petrol pumps remain unchanged, news agency PTI reported citing sources.

The retail fuel prices across key cities were collectively last revised on November 4, 2021, when the central government cut the excise duty on petrol and diesel to bring down their retail rates from their record highs and had urged state governments to cut VAT on fuel. Thereafter, various states had reduced VAT on auto fuels.

The oil marking companies (OMCs) generally revise rates of petrol and diesel on a daily basis, based on the average price of benchmark fuel in the international market in the preceding 15-days and foreign exchange rates. However, the rates have been on freeze for a record 137 days.

In the global market, oil prices jumped $3 on Monday, with Brent above $110 a barrel, as European Union nations consider joining the United States in a Russian oil embargo, while a weekend attack on Saudi oil facilities caused jitters, Reuters reported.

Brent crude futures climbed $3.44 (3.2 per cent) to $111.37 a barrel, adding to a 1.2 per cent rise last Friday. US West Texas Intermediate (WTI) crude futures rose $3.54 (3.4 per cent) to $108.24, extending a 1.7 per cent jump last Friday, the report said.

Here’s what you pay for a litre of petrol and diesel in your city on Monday, March 21, 2022: