A data released by the national oil companies showed that in May, the price of petrol and diesel lowered in the country. The price of petrol was lowered by Rs.1.40 and Rs.1.36 per litre in New Delhi and Mumbai. This has marked a decrease of around 1.90% and 1.73% respectively.
The price of diesel in these two metro cities was decreased by 20 paise and 14 paise in New Delhi and Mumbai. This has marked a decrease of 0.30% and 0.20% respectively.
The price of petrol was risen around 9 times and lowered 13 times in the month of May.
The state-run oil marketing companies review the price of fuels on a daily basis. The change and revisions in the price of fuels are implemented at the petrol pumps with effect from 6 am. The domestic price of this fossil fuels is determined in accordance with the international crude oil price and the foreign exchange rates.
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