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Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Petrol, diesel prices today: Petrol and diesel prices have been raised again across the four metros on Monday, May 31. The prices have been increased for the 16th time since May 4. In the national capital, petrol prices were raised by 29 paise from Rs 93.94 per litre to Rs 94.23 and diesel prices were increased by 26 paise from Rs 84.89 per litre to Rs 85.15 per litre, according to Indian Oil Corporation.
State-run oil refiners had hiked petrol and diesel prices on May 4, ending an 18-day hiatus in rate revision observed during the assembly elections held in states such as Tamil Nadu and West Bengal among others. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
Petrol had crossed the Rs 100 mark in Mumbai on May 29 and the revised price in the financial capital stands at Rs 100.47 per litre. Diesel is retailed at Rs 92.45 per litre in Mumbai. Moreover, the petrol rates had already crossed the Rs 100-mark in several cities of Madhya Pradesh and Rajasthan. Fuel rates vary across the states in the country due to value-added tax or VAT.
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 any changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
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