Petrol, Diesel Price Updates: Petrol, Diesel Prices Hiked Again After Two-Day
Petrol and diesel prices were Highly revised on Sunday across the four metros cities, two days after they had been last revised on May 22. In the national capital, petrol prices were hiked by 17 paise and now stand at ₹ 93.21 per litre, while diesel prices have risen by 27 paise to cost ₹ 84.07, according to Indian Oil Corporation. Petrol and diesel rates are the highest in Mumbai. As per the state-run oil refiner, petrol prices were hiked by 17 paise there and they now stand at ₹ 99.49 per litre in Mumbai, while diesel price is hiked by 29 paise and is now priced at ₹ 91.30 per litre. Fuel rates vary across the states in the country due to value-added tax or VAT. Noted, petrol and diesel rates have been hiked 12 times since May 4.
The state-run oil marketing companies including Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum align the rates of domestic fuel with that of global crude oil prices by taking into account changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.