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Petrol, Diesel prices hiked again after 2-day pause :Check latest rates

By Priyanka Verma 
Updated Date
Petrol, Diesel prices hiked again after 2-day pause :Check latest rates

Petrol and diesel prices have been hiked across the metros on Friday, May 20, after a gap of two days.In Delhi, petrol prices have been increased by 19 paise from Rs 92.85 per litre to ₹ 93.04 per litre and diesel rates have been hiked by 29 paise from ₹ 83.51 per litre to ₹ 83.80 per litre, according to Indian Oil Corporation.

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Petrol and diesel prices are the highest in Mumbai. In Mumbai, the revised petrol prices stand at ₹ 99.32 per litre and diesel is sold at ₹ 91.01 per litre, according to the state-run oil refiner.

The fuel prices have been hiked 11 times 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.

Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country at ₹104 per litre and ₹96.62 a litre respectively.

The hike comes in spite of fuel demands suffering in the first half of May due to Covid-induced lockdown in several states.

Also Read :- Petrol price in Mumbai nears ₹105 after another hike. Check rates in major cities

Sales of road transport fuels during 1 to 15 May dropped by a fifth from the previous month and about 28% from the same period in 2019, reported Bloomberg.

The plunge in consumption at the world’s third-biggest crude consumer was expected to weigh on sentiment on oil prices and damp expectations for a strong global demand rebound in the summer.

The International Energy Agency has lowered its 2021 global oil demand forecast from the impact of the raging virus outbreak in India, while OPEC and its allies are already taking a cautious view.

Here are the latest rates in your city:

Mumbai: Petrol prices – ₹99.32 per litre; diesel prices – ₹91.01 per litre

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Kolkata: Petrol prices – ₹93.11 per litre; diesel prices – ₹86.64 per litre

Chennai: Petrol prices – ₹94.71 per litre; diesel prices – ₹88.62 per litre

Bengaluru: Petrol prices – ₹96.14 per litre; diesel prices – ₹88.84 per litre

Hyderabad: Petrol prices – ₹96.70 per litre; diesel prices – ₹91.36 per litre

Thiruvananthapuram: Petrol prices – ₹95.27 per litre; diesel prices – ₹89.77 per litre

Jaipur: Petrol prices – ₹100.20 per litre; diesel prices – ₹93.13 per litre

Also Read :- Fuel price hike: Petrol crosses ₹100 in two more state capitals. Check rates in your city

Patna: Petrol prices – ₹95.41 per litre; diesel prices – ₹89.21 per litre

Chandigarh: Petrol prices – ₹89.50 per litre; diesel prices – ₹83.46 per litre

Rates had already crossed the ₹100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra. Bhopal was the first state capital where the fuel cost over ₹100. It has been followed by Jaipur.

With the latest increase, prices in Mumbai are inching closer to the mark too.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.

Central and state taxes make up for 60% of the retail selling price of petrol and over 54% of diesel. The union government levies ₹32.90 per litre of excise duty on petrol and ₹31.80 on diesel.

Also Read :- Fuel rates hit record highs, petrol nears ₹104 per litre in Mumbai ;check rates in your city
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