On March 29th, there was no change to the prices of petrol and diesel across many major cities and regions in India. This is despite the somewhat turbulent nature of the global oil market as a result of geopolitical pressures. Oil Marketing Companies (OMCs) have not made any changes to retail fuel pricing, thus giving consumers some level of stability at this time.
In Delhi the price of petrol is approximately Rs 94.77/litre and the price of diesel is Rs 87.67/litre. These prices have been consistent over the past few months even though there have been price fluctuations in the international market resulting from crude oil price fluctuations.
Fuel Prices Today: City Wise Fuel Pricing as of March 29, 2023
In Mumbai, petrol is approximately Rs 103.54/litre and diesel is approximately Rs 90.03/litre. Kolkata does not have much difference with petrol being priced at approximately Rs 105.41/litre and diesel at approximately Rs 92.02/litre.
In Chennai petrol costs approximately Rs 100.80/litre and diesel is approximately Rs 92.39/litre. Hyderabad continues to be among the cities with the highest prices for fuel at approximately Rs 107.46/litre for petrol and Rs 95.70/litre for Diesel.
Why Prices Have Not Changed
Prices for fuels in India are modified daily, at 6:00 AM, but over the last few days they have generally not changed. This is largely due to government policies and efforts to minimize the effect that rising global crude prices place upon the oil companies; as well as their ability to absorb some of those higher prices.
According to foreign oil analysts, the prices of crude oil are determined by several economic indicators, including the price of crude oil in the International markets, the exchange rates between different currencies, the level of taxation added by State and Central Governments, and the prevailing level of supply-demand balance for fuel in each market.
Impact Of Global Situation on Fuel Prices Today
At this moment, crude oil prices are in a state of flux in all portions of the world due to geopolitical unrest in the West Asia region; as a result, the international oil price has been increasing recently. Nevertheless, India has attempted to insulate its citizens from any immediate price increases by maintaining the price of all fuel constant for the time being.
In addition to holding fuel price steady to help ease price pressure during a period of increased global oil price, it has been reported that the Government has also modified taxes to help lessen the pressure on the economy. Thus, for the present, both diesel and petrol continue to be priced uniformly throughout the country.
Khalid Qasid is a media enthusiast with a strong interest in documentary filmmaking. He holds a Master’s degree in Convergent Journalism from AJK MCRC. He has also written extensively on esports at Sportsdunia. Currently, he covers world and general news at NewsX Digital.
