Petrol and diesel prices: The price of petrol in Delhi currently stands at Rs 90.74 per litre while diesel is now selling at Rs 81.12. In Mumbai, petrol costs Rs 97.12, while diesel is retailing at Rs 88.19. Read below to find out fuel prices in your city.
Petrol and diesel price today: Petrol and diesel prices rose for the second consecutive day across the country on Wednesday, May 5, 2021. In the national capital, the petrol price gained 19 paise while that of diesel climbed 21 paise.
This is the second straight revision in fuel prices this month. Prior to this, petrol and diesel prices were unchanged for 18 days with the previous revision taking place on April 15, 2021.
Following the latest price revision, petrol in Delhi is now retailing at Rs 90.74 a litre while diesel is selling at Rs 81.12. In the financial capital Mumbai, petrol price now stands at Rs 97.12 while diesel costs Rs 88.19, data available on Indian Oil Corporation’s website showed.
In February, the price of petrol had breached the Rs 100-mark in two places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel in the country. In these two cities, the key auto fuel rose to Rs 101.61 in Rajasthan’s Sri Ganganagar, while diesel here was available at Rs 93.74 per litre. In Madhya Pradesh’s Anuppur, petrol now costs Rs 101.33 per litre and diesel is selling for Rs 91.76.
Petrol and diesel prices differ from state to state as taxes get levied on them by both central as well as state governments along with the freight charges.
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.
The fuel prices are generally revised on a daily basis in line with benchmark international crude prices and foreign exchange rates.
In the global market, oil prices rose on Wednesday, extending gains from the previous session after industry data indicated US crude stocks fell much more than expected last week, reinforcing bullish views on fuel demand in the world’s largest economy, news agency Reuters reported earlier in the day.
US West Texas Intermediate (WTI) crude futures rose 48 cents (0.7 per cent) to $66.17 a barrel at 0440 GMT, after climbing to $66.58, a level not seen since March 8. Brent crude futures were up 49 cents (0.7 per cent) at $69.37 barrel after touching a more than seven-week high of $69.78 earlier in the session. Both benchmark contracts rose nearly 2 per cent on Tuesday ahead of data from the American Petroleum Institute (API) industry group, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Wednesday, May 5, 2021:
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