Petrol and diesel prices remained unchanged in the country on Wednesday, March 9. However, due to the ongoing Russian-Ukraine conflict, it is likely that there will be a surge in fuel prices in the coming days. US President Joe Biden earlier put a ban on Russian oil imports forcing crude oil to hit a 14-year high of $140 per barrel on Monday. According to reports, state-run oil marketing companies (OMCs) such as Indian Oil, Hindustan Petroleum, and Bharat Petroleum may raise market prices of petrol and diesel as a result of this geopolitical unrest.
In Delhi, petrol costs Rs 95.41 a litre while the rate of diesel was Rs 86.67 per litre. In Mumbai, petrol can be bought at Rs 109.98 per litre and diesel costs Rs 94.14 for one litre.
Meanwhile, Petrol in Kolkata costs Rs 104.67 per litre while diesel costs Rs 101.56 a litre. The price of petrol in Chennai has remained steady today at Rs 101.40 per litre, while the price of diesel has remained unchanged at Rs 91.43 per litre.
Till now the government has been keeping the fuel rates steady for over four months in the run-up to assembly elections in five states, including Uttar Pradesh. Yesterday, there were reports that an imminent increase in petrol and diesel prices has been put on wait-and-watch mode for more clarity on global oil prices.
Commenting on a decision of a likely rise in petrol, diesel prices, Rameswar Teli, MoS, Petroleum, and Natural Gas, said: Petroleum Ministry with oil companies decide the rate of oil, it’s yet to happen. People are aware that oil prices are increasing amid the ongoing war. As & when the meeting takes place you (people) will be informed about the prices.”
Meanwhile, ATF prices have seen a sharp increase of around 57 per cent on a year-on-year basis till March 2022. It is mainly attributed to increasing in crude oil prices. ATF prices, one of the biggest cost components for airlines, have climbed to Rs 19,508.25 per kilo-litre (kl), since December 15 in New Delhi. The latest increase of 3.22 per cent on March 1 took ATF to Rs 93,530.66 per kl in the national capital.
Crude oil prices climbed about 3 per cent early on Wednesday to near $132 per barrel, after rising around 4 per cent on Tuesday driven by the United States banning Russian oil and other energy imports over Moscow’s invasion of Ukraine. Global benchmark Brent was last trading at near $132 per barrel, up about 3 per cent on the day but still off a peak of $139.13 touched on Monday.
“Crude oil showed very high volatility on Tuesday after the US ban on Russian oil and gas imports. Russia exports 7-8 million barrels per day of crude and fuel to the global markets, and banning Russian oil and gas could create supply crunch in already tight supplied markets,” said Rahul Kalantri, Vice President Commodities, Mehta Equities Ltd.
“We expect crude oil prices to remain volatile in today’s session ahead of the US EIA weekly inventory report,” he added.
Check out the Petrol and Diesel Prices Across India on March 9, 2022
Mumbai
Petrol – Rs 109.98 per litre
Diesel – Rs 94.14 per litre
Delhi
Petrol – Rs 95.41 per litre
Diesel – Rs 86.67 per litre
Chennai
Petrol – Rs 101.40 per litre
Diesel – Rs 91.43 per litre
Kolkata
Petrol – Rs 104.67 per litre
Diesel – Rs 89.79 per litre
Bhopal
Petrol – Rs 107.23 per litre
Diesel – Rs 90.87 per litre
Hyderabad
Petrol – Rs 108.20 per litre
Diesel – Rs 94.62 per litre
Bangaluru
Petrol – Rs 100.58 per litre
Diesel – Rs 85.01 per litre
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