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Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Petrol, diesel prices today: Petrol and diesel prices have been hiked again across the metros on Friday i.e. May 14 after a gap of a day. The fuel prices have been hiked eight times since May 4, when the state-owned oil companies ended an 18-day hiatus in rate revision observed during assembly elections in states such as West Bengal.
In Delhi, petrol prices were hiked by 29 paise from Rs 92.05 per litre to Rs 92.34 per litre and diesel was increased by 34 paise from Rs 82.61 per litre to Rs 82.95 per litre, according to Indian Oil Corporation. Currently, petrol and diesel prices are highest in the financial capital of the country. Petrol in Mumbai was retailed at Rs 98.65 per litre and diesel was sold at Rs 90.11 per litre. The petrol rates had already crossed the Rs 100-mark in several places in Rajasthan, Madhya Pradesh and Maharashtra.
Below are the latest petrol and diesel prices across four metro cities:
The state-run oil marketing companies including 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 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 and as a key fuel pipeline in the United States resumed operations after being shut due to a cyber attack.
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.
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