Petrol, Diesel Price Remain High in Delhi, Mumbai; Check Fuel Price in Your City

Curry15

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posted on 2 years ago — updated on 1 second ago

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On Wednesday, one litre of petrol in Delhi will retail at Rs 105.41 per litre, while one litre of diesel in the national capital will retail at Rs 96.67 per litre

Petrol and diesel prices continue to remain steady for more than a month on Wednesday, May 18. The fuel prices were increased by the Oil Marketing Companies (OMCs) by Rs 10 per litre in 14 hikes that took place between March and April 6. Fuel prices have soared across major cities in the country, since the Assembly election concluded in Punjab, Manipur, Uttar Pradesh, Uttarakhand and Goa. Since April 6, the fuel prices have remained steady.

On Wednesday, one litre of petrol in Delhi will retail at Rs 105.41 per litre, while one litre of diesel in the national capital will retail at Rs 96.67 per litre. In Mumbai, consumers of petrol will pay Rs 120.51 per litre and Rs 104.77 for a litre of diesel. The retail price for one litre of Petrol in Kolkata is Rs 115.12, while the retail price for a litre of diesel in the capital city of West Bengal costs Rs 99.83. In Chennai, petrol retail price on Wednesday is Rs 110.85 per litre, while diesel retail price continues to be Rs 100.94 per litre in the capital city of Tamil Nadu.

Revision of the fuel prices is a regular process which is done by Public sector OMCs like Indian Oil Corporation Ltd (IOCL), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL). Fuel price revisions made by the OMCs are influenced by factors like benchmark international crude oil prices and foreign exchange rates. Prices of petrol and diesel vary from state to state since they are influenced by factors like local taxes, VAT (Value Added Tax), freight charges, among others.

According to a report by Reuters, the crude oil prices rose more than $1 a barrel in early Asian trade on Wednesday. This comes as markets hope for demand recovery in China as the country gradually eases some of its strict Covid-19 lockdown measures.

Reuters reports, Brent crude futures were up $1.15, or 1.0%, at $113.08 a barrel at 0042 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed $1.62, or 1.4%, to $114.02 a barrel, paring some losses after oil prices fell by around 2% in the previous session.

Petrol, Diesel Prices on Wednesday, May 18, in Delhi, Chennai and Other Major Cities in India:

Delhi

Petrol – Rs 105.41 per litre

Diesel – Rs 96.67 per litre

Mumbai

Petrol – Rs 120.51 per litre

Diesel – Rs 104.77 per litre

Kolkata

Petrol – Rs 115.12 per litre

Diesel – Rs 99.83 per litre

Chennai

Petrol – Rs 110.85 per litre