Petrol and diesel prices have been hiked across the metros on Friday, May 20, after a gap of two days. In Delhi, petrol prices have been increased by 19 paise from Rs 92.85 per litre to ? 93.04 per litre and diesel rates have been hiked by 29 paise from ? 83.51 per litre to ? 83.80 per litre, according to Indian Oil Corporation. Petrol and diesel prices are the highest in Mumbai. In Mumbai, the revised petrol prices stand at ? 99.32 per litre and diesel is sold at ? 91.01 per litre, according to the state-run oil refiner.
The fuel prices have been hiked 11 times since May 4, when the state-owned oil companies ended a hiatus in rate revision that was observed during assembly elections. Petrol and diesel prices vary across states due to the value-added tax or VAT.
The state-run oil marketing companies including Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum align the rates of domestic fuel with the 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.
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