Fuel price: Petrol, diesel prices hiked by upto 29 Paise; Crosses Rs 100-mark in several states

New Delhi, May 31: In a recent development, the petrol and diesel prices have been raised again across the four metros on Monday. The prices have been increased for the 16th time since May 4.

In Delhi, according to Indian Oil Corporation, 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.

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.

In Mumbai, petrol crossed the Rs 100 mark 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:
City Petrol Diesel
Delhi 94.23 85.15
Mumbai 100.47 92.45
Chennai 95.76 89.90
Kolkata 94.25 88.00

The state-run oil marketing companies 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.