Updated: May 4, 2021 12:10:48 pm
Petrol and diesel price today: After remaining steady for 18 consecutive days, petrol and diesel prices inched up across the country on Tuesday, May 4, 2021. In the national capital, petrol price rose by 15 paise while that of diesel climbed by 18 paise.
The latest move by the oil marketing companies marks the first revision in auto fuel prices this month with the previous revision taking place on April 15, 2021.
With today’s price revision, petrol in Delhi is now retailing at Rs 90.55 a litre while diesel is selling at Rs 80.91. In the financial capital Mumbai, petrol price now stands at Rs 96.95 while diesel costs Rs 87.98, data available on Indian Oil Corporation’s website showed.
In February, the price of petrol had breached the Rs 100-mark for the first time in two places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel in the country. In these two cities, the key auto fuel rose to Rs 101.43 in Rajasthan’s Sri Ganganagar, while diesel here was available at Rs 93.54 per litre. In Madhya Pradesh’s Anuppur, petrol now costs Rs 101.15 per litre and diesel is selling for Rs 91.56.
Petrol and diesel prices hit their record highs on February 27 after which they have been revised only on five occasions since March. Four out of these five revisions resulted in a fall.
Fuel prices differ from state to state as taxes get levied on them by both central as well as state governments along with the freight charges.
The central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.
Generally, petrol and diesel prices are revised on a daily basis in line with benchmark international crude prices and foreign exchange rates.
In the international market, oil prices extended gains on Tuesday as more US states eased lockdowns and the European Union sought to attract travellers, helping to offset concerns over fuel demand in India as COVID-19 cases soar, news agency Reuters reported earlier in the day.
Brent crude futures rose 6 cents (0.1 per cent) to $67.62 a barrel at 0329 GMT, after climbing 1.2 per cent on Monday. US West Texas Intermediate (WTI) crude futures also ticked 5 cents (0.1 per cent) higher, to $64.54 a barrel, after gaining 1.4 per cent on Monday, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Tuesday, May 4, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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