Fuel Rates Today: Check Petrol & Diesel Price of Your City On 21st April 2022

On Thursday, April 21, 2022, the price of petrol and diesel stayed steady for the 15th day in a row across the country. In Delhi, the price of petrol is Rs 105.41 per litre, while the price of diesel is Rs 96.67. According to data available on oil marketing organisations' websites, petrol costs Rs 120.51 in Mumbai, while diesel costs Rs 104.77. Petrol will be sold at the same price of Rs 115.12 per litre in Kolkata today, while diesel will be sold at Rs 99.83 per litre. Petrol will cost Rs 110.85 a litre in Chennai today, while diesel will cost Rs 100.94.

Petrol will be sold at Rs 111.09 per litre in Bangalore, while diesel will be sold at Rs 94.79 per litre. Petrol will cost Rs 112.50 per litre in Bhubaneswar today, while diesel will cost Rs 102.24 per litre. Petrol and diesel prices in Chandigarh will remain steady at Rs 104.74 and Rs 90.83, respectively. Today's petrol price in Hyderabad is Rs 119.49 per litre, while diesel is Rs 105.49 per litre.

The price of crude oil on the international market has risen today, owing to growing fears over lower supply from Russia and Libya. Brent crude prices increased by 1.10 per cent to $108.00 per barrel, while WTI crude futures increased by 0.19 per cent to $102.08 per barrel. Whereas, Brent crude prices increased by $108.23 a barrel on Wednesday, while WTI crude futures climbed to $103.50 a barrel.

In a report on Wednesday, Motilal Oswal has said that "IEA has warned that roughly 3.0 Mbpd of Russian oil could be shut in from May onward due to sanctions, or buyers voluntarily shunning Russian cargoes. IMF slashed its world growth forecast by the most since the early months of the Covid pandemic and projected even faster inflation. IMF said in an update of its World Economic Outlook that global gross domestic product, or GDP, will likely expand by only 3.6% this year and next."

Due to fears concerning fuel demand and output shortage from Libya and Russia, and as India imports 85 per cent of its oil needs and Brent crude oil prices are above $100 per barrel may lead to domestic fuel rates remaining higher than Rs 100, though a reduction in VAT on petrol and diesel may provide some relief to domestic fuel consumers.