Petrol, diesel prices to increase again on Friday; check rates in Delhi, Mumbai

Petrol and diesel prices are all set to increase for the third time this week.

New Delhi: Petrol and diesel prices are all set to increase again on Friday, March 24. According to a notification sent by Indian Oil Corporation to fuel dealers, petrol and diesel rates will increase by 80 paise on Friday, in third such hike within a week. Earlier this week, petrol and diesel were increased by 80 paise on both Monday and Tuesday. 

Oil marketing companies restarted the daily revision of petrol and diesel prices from March 21 after a hiatus of 137 days. It was anyways expected that oil marketing companies will start increasing petrol and diesel rates after the results of polls in five states. 

With the latest price hike, petrol will sell for Rs 97.81 per litre in Delhi. On the other hand, diesel will retail at Rs 89.07 in the national capital on Friday, March 24. Similarly, fuel prices will witness a hike in Mumbai. In the financial capital of India, petrol price will increase to Rs Rs 112.47 while diesel will retail at Rs 96.65 per litre. 

In Kolkata, petrol will cost Rs 107.14 per litre while diesel will sell at Rs 92.22 per litre. Meanwhile, in Chennai, petrol and diesel rates are increased to Rs 103.71 and Rs 93.75, respectively.

On November 4, 2021, the Central government had slashed the excise duty on petrol and diesel by Rs 5 and Rs 10, respectively. Following the move from the Central government, several state governments slashed the VAT on petrol and diesel, in a major respite for vehicle owners.