After four consecutive days of price hike, petrol and diesel rates remained steady on Saturday, May 8 across the metro cities. In the national capital, petrol is being sold at Rs 91.27 per litre and diesel is priced at Rs 81.73 per litre, according to Indian Oil Corporation. In Mumbai, the revised prices of petrol and diesel stand at Rs 97.61 per litre and Rs 88.82 per litre respectively, according to the state-run oil refiner. Currently, fuel prices are the highest in Mumbai among the four metro cities. Petrol and diesel prices vary across states in India due to the 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 the four metro cities:
The state-run oil marketing companies including, the Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, align the rates of domestic fuel with the global crude oil prices by taking into account changes in the foreign exchange rates. The new changes in fuel prices are implemented with effect from 6 am every day.
meanwhile, on Friday, May 7. brent crude futures, the global oil benchmark, fell 0.16 per cent to $ 67.98 per barrel. The rupee edged higher by 27 paise to settle at 73.51 (provisional) against the US dollar on Friday.