Petrol, diesel prices today: Petrol and diesel prices have been increased in the metros on Tuesday, May 18, after a gap of one day. According to the Indian Oil Corporation, the price of petrol in Delhi has increased by 27 paise to Rs 92.85 per liter from Rs 92.58 per liter and diesel has been increased by 29 paise to Rs 83.51 per liter from Rs 83.22 per liter. Petrol and diesel prices are the highest in Mumbai. According to the government oil refiner, the revised petrol price in Mumbai is Rs 99.14 per liter and diesel is Rs 90.71 per liter.
Fuel prices have been raised ten times since May 4, when state-owned oil companies eliminated a hiatus in rate revisions during the assembly elections. Prices of petrol and diesel vary across states due to value-added tax or VAT. (Read also: How to find the latest petrol and diesel rates in your city)
Below are the latest prices of petrol and diesel in four metro cities:
State-run oil marketing companies including the Indian Oil Corporation (IOC), Bharat Petroleum and Hindustan Petroleum align domestic fuel rates with global crude oil prices taking into account changes in foreign exchange rates. Any change in fuel prices is applicable from 6 am every day.
Meanwhile, oil prices climbed on Tuesday, increasing gains from the previous day, as optimism on the reopening of the US and European economies led to a rise in COVID-19 cases and a new wave of sanctions leading to fears of slower fuel demand in Asia got rid of.
Brent crude oil futures were up 20 cents or 0.3 percent at $ 69.66 a barrel at 0231 GMT, while West Texas Intermediate (WTI) was up 19 cents, or 0.3 percent, at $ 66.46 a barrel.