Petrol and diesel prices which rose to new all-time high remained unchanged for the fourth consecutive day across all states. Also, amid rising international crude oil rates and the central government providing no tax relief, the fuel prices in the country remained unaltered. In the international market crude oil was trading at $65.54 (approx. Rs 4,822.60) per barrel on March 1 and the price on Tuesday is at $63.28 (approx. Rs 4,639.84).
Retail fuel prices reached a record high on February 27 when the rate went up by 24 paise per litre for petrol and by 15 paise for diesel per litre. Currently, the price of petrol in New Delhi is at Rs 91.17 per litre, Rs 91.35 in Kolkata, and Rs 93.11 in Chennai. Mumbai still tops the list among the metros for being the most expensive among metro cities at Rs 97.57 per litre.
In comparison, the diesel prices too were stagnant at Rs 81.47 per litre in New Delhi, Rs 84.35 in Kolkata, Rs 88.60 in Mumbai, and Rs 86.45 in Chennai.
The price of petrol and diesel has been witnessing a rise since the start of the year as oil companies kept increasing prices. According to a Hindustan Times report, Union minister for Petroleum, Natural Gas and Steel Dharmendra Pradhan on Sunday said he has asked his counterparts in major oil-producing nations to ramp up production and last week pointed that the fuel rates are likely to see a certain low by end of March or April ’21.
Among the two cities where the price of petrol breached the Rs 100-mark last month, the petrol price remained at Rs 101.84 per litre in Rajasthan’s Sri Ganganagar, while diesel was available at Rs 93.77 per litre. In Madhya Pradesh’s Anuppur, petrol costs Rs 101.59 per litre and diesel at Rs 91.97.