The cost of fuel on September 21

21 Sep 2022 , 08:37 AM

On September 21, metro cities’ gasoline and diesel prices were stable, according to the most recent price notice from fuel merchants.

More than a month has passed with no adjustment in fuel prices. Delhi charges Rs96.72 for gasoline and Rs89.62 for diesel per liter, respectively. Diesel costs Rs94.27 per liter and gasoline costs Rs106.31 in Mumbai. In Chennai, the cost of gasoline and diesel is Rs102.63 and Rs94.24; in Kolkata, it is Rs106.03 and Rs92.76.

On Tuesday, oil prices fell along with other risk assets as the dollar remained strong and investors expected further interest rate increases from central banks to tame inflation.

In order to control inflation, the US Federal Reserve is expected to increase interest rates by an additional 75 basis points on Wednesday. Since oil prices frequently move together, these expectations are putting pressure on the stock market. This week also sees meetings by the Bank of England and other central banks.

For holders of other currencies, higher rates have made oil more costly as the dollar has strengthened and on Tuesday was still close to a two-decade high versus peers.

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