Petrol and diesel prices were raised by 80 paise per litre on Wednesday (March 30, 2022), bringing the total increase in rates in the last nine days to Rs 5.60 per litre.
This is the seventh price rise since the end of a four-and-a-half-month rate revision break on March 22.
Prices were raised by 80 pence per litre on the first four instances, the largest single-day increase since the daily price revision began in June 2017.
Following that, the price of petrol increased by 50 paise and 30 paise per litre, respectively, while the price of diesel increased by 55 paise and 35 paise per litre. On Tuesday, the price of petrol was increased by 80 paise per litre while the price of diesel was increased by 70 paise per litre.
Petrol and diesel prices have both increased by Rs 5.60 per litre.
Petrol will now cost Rs 101.01 per litre in Delhi, up from Rs 100.21 earlier, and diesel will cost Rs 92.27 per litre, up from Rs 91.47 previously.
In Mumbai, a litre of petrol costs Rs 115.88 and a litre of diesel costs Rs 100.10. Petrol will now cost Rs 106.69 in Chennai, and diesel will cost Rs 96.76. Petrol costs Rs 110.52 in Kolkata, while diesel costs Rs 95.42.
Rates have been raised across the country, and they differ from state to state based on the amount of municipal taxation.
Due to the recent surge in oil prices, fuel prices have reached new highs: Government Finance Minister Nirmala Sitharaman defended the 137-day fuel price freeze on Tuesday, claiming that the disruption in supply chains and subsequent increase in global oil prices as a result of the Russia-Ukraine conflict was a "couple of weeks" phenomenon that resulted in the recent record hike in gasoline and diesel prices.
Days before Russia invaded Ukraine on February 24, international oil prices began to rise. On that day, the basket of crude oil that India buys averaged USD 100.71 a barrel, up from USD 82 in early November 2021, when state-owned fuel retailers put a halt to daily price revisions.
She claimed opposition members had stated that the war in Ukraine has been going for a long time and that fuel prices are being raised now during a Rajya Sabha debate on the Budget for 2022-23.
She stated, "Absolutely incorrect." "Since a couple of weeks ago, the disruption and resulting increase in the price of global oil, as well as supply disruption, have all occurred, and we are responding."