Updated: May 26, 2021 10:02:43 am
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 26, 2021. The auto fuel prices had touched record highs on May 25, when petrol rose by 23 paise per litre while diesel inched up 25 paise in the national capital.
The price of petrol in Delhi stands at Rs 93.44 per litre while that of diesel is at Rs 84.32. In Mumbai, petrol currently costs Rs 99.71, while diesel is retailing at Rs 91.57, data available on Indian Oil Corporation’s website showed.
So far in the month of May, the auto fuel prices have been hiked 13 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 prices have already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra. Earlier this month, Bhopal became the first state capital to have petrol hit the three-figure mark and now Jaipur and Mumbai are on the brink of touching the historic milestone.
Fuel prices in the country 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.
Globally, oil prices were steady on Wednesday as concerns a possible resumption in Iranian supply would cause a glut were offset by hopes for stronger US fuel demand after a drop in weekly inventory estimates by the American Petroleum Institute, news agency Reuters reported.
Brent crude oil futures for July gained 5 cents (0.1 per cent) to $68.70 a barrel by 0102 GMT, while US West Texas Intermediate (WTI) crude for July was at $66.05 a barrel, down 2 cents, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Monday, May 26, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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