Petrol, Diesel Prices Touch New Highs; Petrol Nears Rs 100 Mark In Mumbai

In the national capital, petrol prices were increased by 24 paise to Rs 93.68 per litre and diesel prices were increased by 29 paise to Rs 84.61 per litre, according to Indian Oil Corporation

Petrol, Diesel Prices Touch New Highs; Petrol Nears Rs 100 Mark In Mumbai

Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).

Petrol, diesel prices today: Petrol and diesel prices were hiked across the four metros on Thursday, May 27. In the national capital, petrol prices were increased by 24 paise from Rs 93.44 per litre to Rs 93.68 per litre and diesel prices were increased by 29 paise from Rs 84.32 per litre to Rs 84.61 per litre, according to Indian Oil Corporation. This is the 14th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.

Petrol is inching towards the Rs 100 mark in Mumbai; the revised petrol prices in the financial capital are at Rs 99.94 per litre. Diesel is priced at Rs 91.87 per litre in Mumbai. In neighbouring Thane, the price of petrol has crossed the 3-figure mark, at Rs 100.06 a litre and diesel is at Rs 91.99 per litre. Moreover, the petrol rates have already crossed the Rs 100-mark in several cities in Rajasthan and Madhya Pradesh. Fuel rates vary across the states in the country due to value-added tax or VAT. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)

Below are the latest petrol and diesel prices across four metro cities:

CityPetrolDiesel
Delhi93.6884.61
Mumbai99.9491.87
Chennai95.2889.39
Kolkata93.7287.46
Source: Indian Oil

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 changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.

Meanwhile, oil prices settled higher on Wednesday as a drop in U.S crude stockpiles reinforced expectations of improving demand ahead of the peak summer driving season.

Brent settled up 16 cents, or 0.3 per cent, to $68.87 a barrel and U.S West Texas Intermediate (WTI) crude settled up 14 cents, or 0.2 per cent, at $66.21 a barrel.