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Fuel Rates Today: Check Petrol & Diesel Price of Your City On 26th April 2022

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On April 26, oil marketing companies (OMC) kept petrol and diesel prices steady for the 20th day in a row. Petrol is now priced at Rs 105.41 per litre in the National Capital, while diesel is priced at Rs 96.67. In Mumbai, a litre of petrol costs Rs 120.51 and a litre of diesel costs Rs 104.77. In Kolkata, fuel costs Rs 115.12 and diesel costs Rs 99.83 per litre, while in Chennai, petrol costs Rs 110.85 and diesel costs Rs 100.94 per litre. Per litre of petrol will cost Rs 105.86 in Gurugram, while one litre of diesel will cost Rs 97.10.

 
Fuel Rates Today: Check Petrol & Diesel Price of Your City On 26th April 2022

One litre of petrol will cost Rs 111.09 in Bengaluru, while one litre of diesel will cost Rs 94.79. Petrol will cost Rs 112.50 a litre in Bhubaneswar today, while diesel will cost Rs 102.24. Petrol will cost Rs 104.74 per litre in Chandigarh today, while diesel will cost Rs 90.83. Petrol will cost Rs 119.49 per litre in Hyderabad, while diesel will cost Rs 105.49.

Fresh covid fears and the rising downturn in the global economic forecast impacted crude oil prices on Tuesday morning, prompting Brent crude futures to increase $1.05 to trade at $103.50 per barrel, while U.S. West Texas Intermediate (WTI) crude futures rose $0.89 to $99.43 per barrel. In the days ahead, a huge reduction in US crude oil inventories and concerns about supply shortages from Libya, as well as the possibility that Western countries may enforce tougher sanctions on Russian oil, will have a further impact on international oil prices.

On Monday, the brokerage firm Motilal Oswal said in a report that "Most forecasting agencies currently predict that global GDP will grow by around 3.5% in 2022, compared to the previous year. Inflationary pressures, rising interest rates, the Ukraine conflict, and high COVID19 cases, particularly in China, are currently weighing on the overall oil demand scenario." The brokerage has further claimed that "While Russian oil producers struggle to sell their barrels, the release of strategic oil reserves is helping to alleviate supply concerns. As a result of concerns about decreased oil demand, OPEC has continued its policy of progressively raising supply. Worsening crisis in Ukraine could raise pressure on the EU to sanction Russian oil and prices could move higher later this year."

Story first published: Tuesday, April 26, 2022, 8:53 [IST]
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