Petrol Prices & Diesel Prices Today (March 9): Fuel Rates In Delhi, Mumbai, Bengaluru, Chennai, More Cities

Petrol and diesel prices in India are back in focus as international crude oil prices surpass $115 per barrel, which is likely to push fuel prices higher. On March 9, petrol prices in cities like Chennai, Gurgaon, Noida, Kolkata and Thiruvananthapuram. While diesel prices are also up in these cities.

Petrol Prices Today (March 9):

Petrol is above Rs 100 per litre in cities like Kolkata, Chennai, Bengaluru, Bhubaneswar, Hyderabad, Jaipur, Patna and Thiruvananthapuram. Meanwhile, in cities like New Delhi, Noida, Jaipur and Chandigarh is between Rs 94 per litre to Rs 95 per litre. In the financial hub, 1 litre petrol is priced at Rs 103.54.

City	Price	Price Change
New Delhi	₹94.77	0.00
Kolkata	₹105.45	+0.04
Mumbai	₹103.54	0.00
Chennai	₹101.23	+0.17
Gurgaon	₹95.65	+0.14
Noida	₹94.88	+0.11
Bangalore	₹102.92	-0.07
Bhubaneswar	₹101.16	-0.03
Chandigarh	₹94.30	0.00
Hyderabad	₹107.46	0.00
Jaipur	₹105.21	-0.19
Lucknow	₹94.69	0.00
Patna	₹105.23	-0.19
Thiruvananthapuram	₹107.49	+0.19

Diesel Prices Today (March 9):

Diesel price is most expensive in Hyderabad and Thiruvananthapuram to around Rs 96 per litre. Meanwhile, in cities like Bhubaneswar, Chennai, and Patna, diesel is around Rs 92 per litre. In Mumbai, and Jaipur, diesel is above Rs 90 per litre.

City	Price	Price Change
New Delhi	₹87.67	0.00
Kolkata	₹92.02	0.00
Mumbai	₹90.03	0.00
Chennai	₹92.81	+0.20
Gurgaon	₹88.10	+0.12
Noida	₹87.98	+0.09
Bangalore	₹90.99	-0.07
Bhubaneswar	₹92.74	-0.02
Chandigarh	₹82.45	0.00
Hyderabad	₹95.70	0.00
Jaipur	₹90.65	-0.17
Lucknow	₹87.81	0.00
Patna	₹91.49	-0.18
Thiruvananthapuram	₹96.48	+0.30

The reason behind the impact in fuel prices is the soaring crude oil which is a key component to formulate petrol and diesel prices in India.

US WTI Crude futures surged by nearly 31% on Monday to hit above $113 per barrel and Brent Crude oil climbed by 25% to trade above $115 per barrel, after major Middle Eastern producers announced a series of production cuts of crude following disruptions in the Strait of Hormuz.

How Crude Oil Above $115 Will Impact?

According to Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments, Brent crude has spiked above $115 delivering a big oil shock to economies and markets. Big oil importers like India will be hit hard if the West Asian conflict lingers long and crude price remains high. The market will price-in the economic consequences of this oil shock. Inflation will certainly move up whether the oil price hike is passed on to consumers or not.

Furthermore, the analyst added that the unknown factor now is how long the conflict will last.

He said, this uncertainty will also weigh on FIIs who have again turned aggressive sellers in India after the short bout of buying in February. The lesson from history is that the impact of geopolitical issues like conflicts on markets do not last long.