- The fuel prices witnessed last hiked by 80 paise a litre each on April 6, taking the total increase in rates in 16 days to ₹10 per litre
Fuel prices continued to remain steady on Sunday, May 8, 2022 with the petrol, diesel prices staying unchanged, according to the price notification by the state-run fuel retailers. The fuel prices witnessed last hiked by 80 paise a litre each on April 6, taking the total increase in rates in 16 days to ₹10 per litre.
Petrol price in Delhi costs ₹105.41 per litre while diesel costs ₹96.67. In Gurugram, one litre of petrol costs ₹105.86 and ₹97.10 for one litre of diesel. In Mumbai, the prices of petrol and diesel stood at ₹120.51 and ₹104.71 respectively.
In Chennai, the petrol and diesel prices are at ₹110.85 and ₹100.94 per litre . In Kolkata, the price of petrol is ₹115.12 and diesel is ₹99.83 . In Bengaluru, one litre of petrol will cost ₹111.09 and one litre of diesel will cost ₹94.79. Fuel prices are decided based on the international prices, excise duty, state value-added taxes (VAT), and other charges.
Meanwhile, India’s petrol and diesel sales growth moderated in April while cooking gas LPG consumption fell as record high prices dented demand, preliminary industry data showed on Sunday.
Petrol sales growth moderated to 2.1% in April when compared with the same period in the preceding month, while diesel demand was almost flat. Cooking gas LPG, which had consistently shown growth even during the pandemic period, saw a massive 9.1% month-on-month drop in consumption during April.
State-owned oil firms had on March 22 ended a 137-day hiatus in rate revision and began passing a USD 30 per barrel increase in cost of raw material (crude oil) during that period when five states including Uttar Pradesh went to polls.
Petrol and diesel prices rose by ₹10 per litre between March 22 and April 6 — the highest-ever increase during a 16-day period since fuel prices were deregulated two decades back.
On March 22, cooking gas prices too were hiked by ₹50 per cylinder to ₹949.50 — the highest-ever rate for the subsidised fuel. The price increases moderated the consumption.
Petrol sales by state-owned fuel retailers, which control roughly 90% of the market, at 2.58 million tonnes during April were nearly 20.4% higher than the same period last year and 15.5% higher than the period in 2019, preliminary industry data showed.
The consumption was, however, just 2.1% more than the 2.52 million tonnes sales in March 2022. Diesel, the most-used fuel in the country, saw sales jumping 13.3% year-on-year to 6.69 million tonnes. This was 2.1% higher than sales in April 2019. But this was just 0.3% higher than 6.67 million tonnes consumption during March.
Petrol and diesel sales had risen 18% and 23.7% respectively in the first half of March when dealers and consumers hoarded fuel on price hike expectations. Diesel sales during March were the most in any month in the last two years and more than the total volume of diesel sold in April 2020 when the country was under a complete lockdown.
(With inputs from agencies)
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