The cost of petrol and diesel prices remained unchanged for yet another day on Thursday, March 23. Despite several fluctuations in the international price of crude owing to the banking sector crisis in the US, petrol and diesel prices in India did not budge. This is likely to be the trend in the future as well, courtesy of a price freeze levied by Indian Oil Marketing Companies such as Hindustan Petroleum Corporation Limited, Indian Oil Corporation, and Bharat Petroleum Corporation Limited. OMCs put the price freeze in place to recover losses from the past couple of quarters. As of March 20, they are yet to recover Rs 18,000 crore in accumulated losses from earlier quarters.
The price of petrol and diesel has not moved a single point since May 21 last year. In Delhi, motorists are paying Rs 96.72 per litre for petrol and Rs 89.62 for diesel at the pump. Chennai folks are shelling out Rs 102.73 per litre for petrol and Rs 94.33 for the same quantity of diesel. Those in Mumbai have to spend the most for petrol out of all metropolitan cities in the country. Prices here have skyrocketed to Rs 106.31 per litre. Diesel is available at Rs 94.27 per litre. Kolkata residents are experiencing stagnant petrol prices at Rs 106.03 per litre, with diesel priced at Rs 92.76 per litre.
Check fuel rates in various cities in India on March 23 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
In a move to safeguard the supply of refined fuels in the domestic market, India is reportedly poised to extend restrictions on the export of diesel and petrol beyond the current fiscal year.
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