Updated: May 19, 2021 12:23:47 pm
Petrol and diesel price today: A day after hitting new record highs on Tuesday, petrol and diesel prices were steady across the country on Wednesday, May 19, 2021. The auto fuel prices had touched record highs on May 18, when petrol rose by 27 paise per litre while diesel inched up 29 paise in the national capital.
The price of petrol in Delhi stands at Rs 92.85 per litre while that of diesel is at Rs 83.51. In Mumbai, petrol currently costs Rs 99.14, while diesel is retailing at 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.
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 seems headed in that direction.
Fuel prices in India 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 global market, oil prices fell for a second day on Wednesday on renewed demand concerns as coronavirus cases in Asia rise and on fears of rising inflation might lead the US Federal Reserve to raise interest rates, which could limit economic growth, news agency Reuters reported earlier in the day.
Brent crude futures fell 73 cents (1.1 per cent) to $67.98 a barrel at 0452 GMT. It settled 1.1 per cent lower on Tuesday after briefly climbing above $70 earlier in the session. US West Texas Intermediate (WTI) crude futures dropped 77 cents (1.2 per cent) to $64.72 a barrel, following a 1.2 per cent fall on Tuesday, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Wednesday, May 19, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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