Despite expectations of a drop in crude oil prices following the US bank collapses, fuel prices in India remained unchanged on Wednesday, March 22. The prices of petrol and diesel stayed put in most parts of the country because oil marketing companies were unable to recover nearly Rs 18,000 crore in accumulated losses from earlier quarters. Prior to this, the cost of petrol and diesel would be updated every day at 6 am by OMCs. However, the current price freeze is expected to persist as the companies work towards recuperating their losses.
As a result, on March 22, Delhi saw petrol being sold at Rs 96.72 per litre, with diesel priced at Rs 89.62 per litre. Meanwhile, Mumbai emerged as the city with the highest fuel prices in the country, with petrol costing Rs 106.31 per litre and diesel available for Rs 94.27 per litre. Chennai witnessed petrol being sold at Rs 102.73 per litre and diesel at Rs 94.33 per litre, while Kolkata saw petrol prices stagnate at Rs 106.03 per litre and diesel at Rs 92.76 per litre.
With no significant price drops on the horizon, Indian consumers can expect to continue paying high prices for petrol and diesel in the near future.
Find fuel rates in different cities in India on March 22 here:
Delhi
Petrol: Rs 96.72 per litre
Diesel: Rs 89.62 per litre
Chennai
Petrol: Rs 102.73 per litre
Diesel: Rs 94.33 per litre
Kolkata
Petrol: Rs 106.03 per litre
Diesel: Rs 92.76 per litre
Mumbai
Petrol: Rs 106.31 per litre
Diesel: Rs 94.27 per litre
Bengaluru
Petrol: Rs 101.94 per litre
Diesel: Rs 87.89 per litre
Lucknow
Petrol: Rs 96.57 per litre
Diesel: Rs 89.76 per litre
Bhopal
Petrol: Rs 108.65 per litre
Diesel: Rs 93.90 per litre
Gandhinagar
Petrol: Rs 96.63 per litre
Diesel: Rs 92.38 per litre
Hyderabad
Petrol: Rs 109.66 per litre
Diesel: Rs 97.82 per litre
Thiruvananthapuram
Petrol: Rs 107.71 per litre
Diesel: Rs 96.52 per litre
India is the world’s third-largest oil consumer. Despite the global push towards renewable energy sources, India’s heavy reliance on fossil fuels in its transportation sector has not budged much. With OMCs prioritising the recuperation of the losses made during the pandemic, the chances of common people seeing relief anytime soon are low.
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