Petrol and diesel prices on March 24: Check fuel rates in your city today

The price of petrol in Delhi stands at Rs 97.01 per litre while that of diesel is at Rs 88.27. In Mumbai, petrol currently costs Rs 111.67, while diesel is retailing at Rs 95.85, data available on Indian Oil Corporation’s website showed.

The prices of auto fuels were revised for the first time in over four months earlier this week. The oil marketing companies (OMCs) had kept the petrol and diesel rates unchanged since November 4 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.

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.

In the international market, crude oil futures extended gains on Thursday morning, after sharply rising in the first portion of the week, as traders weighed additional supply disruptions following reports of storm damage at a major export terminal system on the Black Sea, news agency Reuters reported earlier in the day.

Brent futures were up about $1.06 (0.9 per cent) to $122.66 a barrel and US West Texas Intermediate futures were up about 79 cents (0.7 per cent) to $115.68 a barrel, the report said.

Here’s what you pay for a litre of petrol and diesel in your city on Thursday, March 24, 2022: