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Petrol, Diesel Prices Hiked Again; Touch Record Highs
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In Delhi, petrol prices have been increased by 24 paise to ₹ 92.58 per litre and diesel was hiked by 27 paise to ₹ 83.22 per litre, according to Indian Oil Corporation.
Petrol, diesel prices today: Petrol and diesel prices have been hiked again across the metros on Sunday, May 16, after a day’s pause. In Delhi, petrol prices have been increased by 24 paise from ₹ 92.34 per litre to ₹ 92.58 per litre and diesel was hiked by 27 paise from Rs 82.95 per litre to ₹ 83.22 per litre, according to Indian Oil Corporation. Currently, petrol and diesel prices are the highest in Mumbai. In Mumbai, petrol is being sold at Rs 98.88 per litre and diesel is retailed at ₹ 90.40 per litre, according to the state-run oil refiner.
This is the ninth hike since May 4, when the state-owned oil companies ended a hiatus in rate revision that was observed during assembly elections. Petrol and diesel prices vary across states due to the value-added tax or VAT.
The state-run oil marketing companies including Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum align the rates of domestic fuel with the 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.
Meanwhile, oil prices fell on Friday after dropping about 3 per cent a day earlier as coronavirus cases remained high in major oil consumer India. Brent crude oil futures were down 35 cents, or 0.5 per cent, at $66.70 a barrel and West Texas Intermediate (WTI) was down 28 cents, or 0.4 per cent, at $63.54 a barrel.
| Comments on this Article | |
| Jossey Saldanha, Mumbai | Tue, May-18-2021, 8:21 |
Money is needed for Central Vista Project ...  Agree[1]
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