Petrol, diesel prices at record-high after 14th hike in May, check latest rates

By Rajan Nath - May 27, 2021 11:05 am

Petrol and Diesel Prices Hike: The petrol and diesel prices on Thursday hiked yet again as the oil marketing companies (OMCs) revised their rates. The development comes at a time when fuel rates have been witnessing a rise in the last few days.

Petrol is an inch closer to the Rs 100-mark in Mumbai following the hike in petrol and diesel prices.

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Petrol and Diesel Prices Hike: The petrol and diesel prices hiked yet again as the oil marketing companies (OMCs) revised their rates.

According to the oil marketing companies, the petrol price has been hiked by 24 paise per litre while diesel price has increased by 29 paise a litre in the national capital. It was the 14th hike this month that led to the fuel prices to record-high levels across the country.

Petrol, Diesel Prices Today

City Petrol Diesel
Delhi 93.44 84.32
Mumbai 99.49 91.30
Chennai 95.06 89.11
Kolkata 93.49 87.16

 

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Petrol and Diesel Prices Hike: The petrol and diesel prices hiked yet again as the oil marketing companies (OMCs) revised their rates.

With the latest hike, the petrol price in Delhi has reached Rs 93.68 per litre while diesel is at Rs 84.61 per litre. In Mumbai, the petrol price has reached Rs 99.94 a litre while diesel is at Rs 91.87 per litre.

The fuel prices had already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra. With the latest development, the price in Mumbai is an inch closer to that level.

Petrol and Diesel Prices Hike: The petrol and diesel prices hiked yet again as the oil marketing companies (OMCs) revised their rates.

Why are petrol and diesel prices constantly on the rise?

The fuel prices vary from state to state on the basis of local taxes including Value Added Tax and freight charges. Rajasthan levies the highest VAT on petrol in the country, followed by Madhya Pradesh and Maharashtra.

Meanwhile, the excise tax levied by the Central government and state government is one of the reasons behind the fuel price hike.

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