Petrol And Diesel Prices Hiked Across India After 18-Day Pause

After a pause of 18 days, the state-owned oil marketing companies (OMCs) on Tuesday have increased fuel rates across the country. With the latest revision, petrol prices in Delhi were increased by 15 paise from Rs. 90.40 per litre to Rs. 90.55 per litre. On the other hand, diesel prices went up by 18 paise from Rs. 80.73 per litre to Rs. 80.91 per litre in the national capital. Fuel rates were last revised on April 15, 2021, when petrol and diesel prices were reduced by 16 paise and 14 paise, respectively.

Also Read: Fuel Demand Down By 7% In April 2021: Report​

Customers in Mumbai will have to pay Rs. 87.98 per litre for diesel

Here are the prices of petrol and diesel in the five metros on May 5, 2021:

Customers in Mumbai will now have to pay Rs. 96.95 for one litre of petrol, seeing a hike of 12 paise. However, diesel rate rose by 17 paise to Rs. 87.98 a litre. Petrol price in Chennai has been increased by 12 paise to Rs. 92.55 per litre, which cost of diesel has increased to Rs. 85.90 per litre. In Kolkata, petrol and diesel retail at Rs. 90.76 per litre and Rs. 83.78 per litre, respectively. Moreover, the two auto fuels in Bengaluru cost Rs. 93.60 a litre and Rs. 85.81 a litre for petrol and diesel, respectively.

Also Read: Petrol And Diesel Prices Drop In India After Remaining Unchanged For 15 Days

Changes in fuel prices are implemented at 6 am every day

Petrol and diesel rates have been cut by 77 paise per litre and 74 paise per litre in total since March 24, 2021. Prior to these price cuts, the two auto fuels in 2021 had witnessed a rate hike of Rs. 7.46 per litre and Rs. 7.60 per litre for petrol and diesel, respectively.

Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum are the three leading oil marketing companies. Changes in fuel prices are implemented at 6 am every day. The prices are determined as per global benchmarks of crude oil rates, and by taking changes in the foreign exchange rates into account. The fuel rates vary from state to state in the country due to the value-added tax or VAT.