Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Petrol, diesel prices today: Petrol and diesel prices are untouched across the four metros on Friday, May 28. In the national capital, petrol prices are steady at Rs 93.68 per litre and diesel prices are constant at Rs 84.61 per litre, according to Indian Oil Corporation. The prices have been hiked 14 times since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states such as West Bengal.
In Mumbai, the petrol price is Rs 99.94 per litre and diesel is priced at Rs 91.87 per litre. The petrol rates have already crossed the Rs 100-mark in several cities in Rajasthan and Madhya Pradesh. Fuel rates vary across the states in the country due to value-added tax or VAT. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
Below are the latest petrol and diesel prices across four metro cities:
The state-run oil marketing companies including Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum align the rates of domestic fuel with that of global crude oil prices by taking into account changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
Meanwhile, oil prices dipped on Thursday as concern about demand in India and the potential for a rise in Iranian supplies offset optimism over the U.S and European summer driving season.
Brent fell 60 cents, or 0.9 per cent, to $68.27 a barrel and U.S. West Texas Intermediate (WTI) crude fell 57 cents, or 0.9 per cent, to $65.64 a barrel.