Fuel Rates Today On March 15, 2022: Check Latest Petrol & Diesel Price

Oil rates internationally on receding war worries even as there is no result from the fourth round of negotiations are down. WTI crude is just marginally high above $100 per barrel, while Brent holds at $105 per barrel, after dropping near to 2%.

Fuel Rates Today On March 15, 2022: Check Latest Petrol & Diesel Price

Meanwhile, fuel rates in India remain constant even after state elections are over. As per the latest IOC update, petrol price in New Delhi is Rs 95.41, while the diesel price is Rs 86.67. The current petrol price in Kolkata is Rs 104.67, while the diesel price is Rs 89.79. The petrol price in Mumbai is currently Rs 109.98, while the diesel price is Rs 94.14. The current diesel price in Chennai is Rs 91.43, while the current petrol price is Rs 101.40. In Kolkata the price of petrol is retailing at Rs. 104.67 per litre, while diesel is available for Rs. 89.79/ litre.

Metro city	Petrol rate in Rs/litre	Diesel rate in Rs./litre
Delhi	95.41	86.67
Mumbai	109.98	94.14
Kolkata	104.67	89.79
Chennai	101.4	91.43

Fuel rates revised higher in few cities

In Gurgaon petrol and diesel have moved higher in price by 0.18 paise to Rs.95.9 and Rs.87.11 per litre, likewise for other cities which there are changes are as below:

Lucknow- Petrol- Rs. 95.28, up 0.15, Diesel- Rs. 86.8, up 0.13

Jaipur- Petrol-Rs. 107.01, up 0.28, Diesel- Rs. 90.65, up 0.25

Patna-Petrol- Rs. 106.26, down by 0.55,Diesel- Rs. 91.43, down by 0.51

Surprising fuel rates have not been revised in metros as yet as indicated

Publications suggest that the government is working out a plan and may cut excise duty to make up with the rising fuel cost which is essential for OMCs to maintain their margins."We are working out some options. One of them may include reducing excise duty simultaneously with increase in retail prices,"told a leading daily. The fuel prices were expected to move higher on March 7, 2022 after the polling ended in poll-bound states.

Since the retail prices are decided based on a 15-day rolling average, the OMCs may increase the fuel prices keeping average crude price at $105-110 per barrel, A.K. Sharma, former director, finance, at Indian Oi is quoted as saying in a leading daily.

Fuel price hike expectations

It is viewed that if OMCs take crude prices to be at $115 per barrel, petrol and diesel rates will need to be hiked by Rs. 15-20 per litre in order that the OMCs do not take a hit.

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