Petrol, Diesel Rates On April 12, 2022: Prices Steady For Sixth Day

Petrol and diesel rates today have remained steady for the sixth straight day. As per the price update by oil marketing companies, in Delhi petrol now costs Rs. 105.41 per litre whilediesel shall be available for Rs. 96.67 per litre.

In Mumbai, petrol today costs 120.51 and diesel is priced at Rs. 104.77 per litre respectively.

In Chennai, the rates for petrol and diesel are Rs. 110.85, while that of diesel is Rs. 100.94 per litre, petrol and diesel revised rates in Kolkata are at Rs. 115.2 and Rs. 99.83 per litre.

Fuel rates in the country ever since 2017 are revised by oil marketing and retailing companies including BPCL, HPCL and IOC at 6:00 am on a daily basis and thus have been following dynamic pricing model. The international rates as well as foreign exchange rate influence fuel rates in the domestic market.

After the hiatus in rate for 4 months, OMCs in order to protect their margin after international crude soared to $140 per bbl has been headed higher.

International crude oil rates

Crude internationally has moved higher with Brent crude above $100 per barrel mark, up over 2%. There are concerns that Russia may be imposed with more sanctions and at the same time there is a signal from OPEC that rising output is next to impossible.