While petrol and diesel prices have remained unchanged in metro cities Delhi, Mumbai, and Kolkata, there is a change in Chennai.
And there has been a price reshuffle in cities like Noida, Gurugram, Jaipur, Lucknow and Patna, News18 reported.
In Gurugram petrol is Rs 95.68 and diesel Rs 86.90 per litre; Noida petrol Rs 95.64 and diesel Rs 87.14 per litre; Jaipur petrol Rs 107.06 and diesel Rs 90.70 per litre; Lucknow petrol Rs 95.29 and diesel Rs 86.81 per litre; Patna petrol Rs 106.26 and diesel Rs 91.43.
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 101.51 and diesel is sold at Rs 91.53.
A rally drives oil prices to their highest in almost a decade
The 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 7 million barrels per day (bpd), are disrupted by sanctions after its invasion of Ukraine, high oil prices have spooked equity markets.
Oil surged throughout the last week and on March 7 as the United States and allies heaped sanctions on Russia. Brent futures, a global benchmark for crude oil prices, tested $139 a barrel on March 7 as the market restricted purchases of Russian crude oil.
Also Read: Russia running out of oil customers
The major impact of the Russia-Ukraine conflict is likely to continue. The Biden administration, under pressure from lawmakers from both major parties, said it is considering options for cutting US imports of Russian oil even as it tries to minimise the impact on global supplies and on consumers.
The hostility between Russia and Ukraine, along with sustained demand, is expected to take global crude oil prices even higher in the short term.
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