Fuel Prices on March 10: Petrol, diesel prices today in Mumbai, Delhi, Chennai & other cities

It is feared that the Russia-Ukraine war will spill over into India’s retail fuel prices soon. (Representative Image)

Petrol and diesel prices remained unchanged on March 10 in Delhi, Mumbai, Kolkata, and Chennai, a notification issued by state-owned fuel retailers showed.

But, there is a price reshuffle in cities like Noida and Lucknow, News18 reported.

In Noida petrol Rs 95.36 and diesel Rs 86.87 per litre; Lucknow petrol Rs 95.14 and diesel Rs 86.68 per litre.

In Mumbai, a cut on November 4 reduced the price of petrol to Rs 109.98 a litre, which remains unchanged. Diesel is at Rs 94.14 a litre.

Delhi had reduced the local sales tax, or the value-added tax (VAT), on petrol from 30 to 19.4 percent from December 1 midnight, bringing down the price by around Rs 8 to Rs 95.41 per litre.

Petrol in Delhi costs Rs 95.41 while diesel costs Rs 86.67 per litre. In Kolkata, petrol and diesel prices remained at Rs 104.67 and Rs 89.79.In Chennai, petrol now costs Rs 101.40 and diesel is sold at Rs 91.43.

A rally drives oil prices to their highest in almost a decade

Last week's rally has driven oil prices to their highest in almost a decade with no signs of abating. As supplies from top exporter Russia, which ships more than seven million barrels per day (bpd), are disrupted by sanctions after its invasion of Ukraine, high oil prices have spooked equity markets.

Also Read: How much hike in petrol, diesel prices is warranted by the dizzying rise in crude oil prices?

In morning trade in Asia on March 9, global benchmark Brent crude was trading at $130.31 per barrel, up 1.82 percent on the day but still off a peak of $139.13 touched on March 7. U.S. West Texas Intermediate crude was up 1.41 percent at $125.45 per barrel.

The major impact of the Russia-Ukraine conflict is likely to continue. US President Joe Biden banned imports of Russian oil on March 8 to punish Moscow for its invasion of Ukraine as desperate civilians fled besieged cities and fresh fighting raged.

The hostility between Russia and Ukraine, along with sustained demand, is expected to take global crude oil prices even higher in the short term.