Fuel Price Hike: Petrol & Diesel Rates Rise For Third Consecutive Day. Check Latest Rates

According to the new rates, petrol in Delhi will cost Rs 97.81 per litre, while the price of diesel has been hiked to Rs 89.07

Petrol pump (Getty Image)

New Delhi: Petrol and diesel prices in the country have bee hiked for the third consecutive day. The increase in price is 80 paise per litre and will come into effect from March 25, 2022.

According to the new rates, petrol in Delhi will cost Rs 97.81 per litre, while the price of diesel has been hiked to Rs 89.07 per litre, which is an increase of 80 paise.

In the commercial capital Mumbai, people will have to pay Rs 112.51 for a litre of petrol and Rs 96.70 for diesel, whihc is an increase of  84 paise and 85 paise, respectively. Petrol price in Mumbai is the highest among metro cities in the country.

In Kolkata, the new price of petrol is Rs 106.34, an increase of 84 paise. While Diesel will now cost Rs 91.42 

Moving down south, petrol in Chennai according to the new rates will cost Rs 102.91, while the price of diesel has settled at Rs 92.95 per litre.

Fuel prices have been hiked after a gap of more than four months. In November last year, the government had cut excise duty on fuel in order to provide relief to consumers. Petrol price was at an all-time high when the government slashed duty on petrol by Rs 5 per litre and diesel by Rs 10 a litre.

The increase in petrol and diesel prices depends on several factors like demand, valuation of INR against USD and cost of crude oil in the international market.

 Local taxes like value-added tax (VAT) and freight charges can also push fuel prices higher.