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Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Petrol and diesel prices have been hiked up to 30 paise across the metros on Thursday, May 6, 2021. In Delhi, petrol prices have been increased by 25 paise from Rs 90.74 per litre to Rs 90.99 per litre and diesel prices have been raised by 30 paise from Rs 81.12 per litre to Rs 81.42 per litre, according to Indian Oil Corporation. In Mumbai, the revised prices of petrol and diesel are Rs 97.34 per litre and Rs 88.49 per litre respectively, according to the state-run oil refiner. Presently, fuel prices are the highest in Mumbai among the four metro cities. Petrol and diesel prices vary across states in India due to the value-added tax. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
Below are the latest petrol and diesel prices across the four metro cities:
The state-run oil marketing companies, Indian Oil Corporation, 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. The new changes in fuel prices are implemented with effect from 6 am each day.
Meanwhile, oil prices fell on Thursday as gasoline inventories in the United States, the world’s largest oil consumer, rose for a fifth consecutive week although a draw in crude stockpiles helped to underpin prices.
Brent crude oil futures fell by 16 cents, or 0.2 per cent to $68.80 barrel by 0123 GMT, and U.S West Texas Intermediate (WTI) crude futures dropped by 20 cents or 0.3 per cent to $65.43 a barrel. Both Brent and U.S crude futures hit their highest since mid-March on Wednesday before retreating.
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