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Fuel prices at new record highs; Petrol breaches Rs 99/litre for the first time in Mumbai

Petrol and diesel prices: The price of petrol in Delhi currently stands at Rs 92.85 per litre while diesel is now selling at Rs 83.51. In Mumbai, petrol costs Rs 99.14, while diesel is retailing at Rs 90.71. Read below to find out fuel prices in your city.

By: Express Web Desk | New Delhi |
May 18, 2021 11:17:21 am
petrol price today, diesel price today, petrol diesel priceA worker fills petrol for two wheelers at a fuel station in Ahmedabad. (Express photo by Nirmal Harindran)

Petrol and diesel price today: After being steady for a day, prices of petrol and diesel were hiked again on Tuesday, May 18, 2021, touching fresh record highs across the country. In the national capital, the petrol price rose by 27 paise while that of diesel too inched up 29 paise.

Following the latest price revision, petrol in Delhi is now retailing at Rs 92.85 a litre while diesel is selling at Rs 83.51. In the financial capital Mumbai, petrol price now stands at Rs 99.14 while diesel costs Rs 90.71, data available on Indian Oil Corporation’s website showed.

So far in this month, the auto fuel prices have been hiked 10 times after oil marketing companies (OMCs) resumed their price revisions ending an 18-day hiatus that coincided with the assembly elections in key states. During this period, petrol price has increased by Rs 2.45 per litre and diesel has climbed by Rs 2.78 in New Delhi.

With the recent hikes this month, petrol rates have already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra. Last week Bhopal became the first state capital to have petrol hit the three-figure mark and now Mumbai too looks headed in that direction.

In India, the fuel prices differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.

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.

Petrol and diesel prices generally get revised on a daily basis in line with benchmark international price and foreign exchange rates.

In the international market, oil prices climbed on Tuesday, extending gains from the previous day, as optimism over the reopenings of the US and European economies outweighed fears of slower fuel demand in Asia due to surging COVID-19 cases and a new wave of restrictions, news agency Reuters reported.

Brent crude oil futures were up 20 cents (0.3 per cent) at $69.66 a barrel by 0231 GMT, while West Texas Intermediate (WTI) was up 19 cents (0.3 per cent) at $66.46 a barrel. Both contracts rose more than 1 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 18, 2021:

City Petrol (Rs/litre) Diesel (Rs/litre)
New Delhi 92.85 83.51
Mumbai 99.14 90.71
Kolkata 92.92 86.35
Chennai 94.54 88.34
Bengaluru 95.94 88.53
Hyderabad 96.50 91.04
Patna 95.05 88.75
Bhopal 100.91 91.90
Jaipur 99.30 92.18
Lucknow 90.57 83.89
Thiruvananthapuram 94.83 89.77
Source: Indian Oil Corporation 

 

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