Petrol, Diesel Prices Hiked For Second Consecutive Day

Petrol and diesel prices have been increased for the second consecutive day in India. Today, on May 5, 2021, petrol prices in the country's national capital, Delhi, stand at Rs. 90.74 per litre, which diesel is priced at Rs. 81.12 per litre, witnessing a price hike of 19 paise and 21 paise, respectively compared to May 4. At the same time, petrol prices in Mumbai have gone up to Rs. 97.12 per litre, after a 17 paise hike, while diesel rates stand at Rs. 88.19 per litre, after receiving a hike of 21 paise.

Also Read: Petrol And Diesel Prices Hiked Across India After 18-Day Pause

As for other metro cities, petrol prices in Kolkata today have gone up to Rs. 90.92 per litre, while diesel is priced at Rs. 83.98 per litre, receiving a price hike of 16 paise and 20 paise respectively. Chennai, on the other hand, saw a 15 paise hike in petrol, which is now priced at Rs. 92.70 per litre, while diesel rates went up by 19 paise, at Rs. 86.09 per litre.

Petrol prices in Mumbai have gone up to Rs. 97.12 per litre, while diesel rates stand at Rs. 88.19 per litre

In Bengaluru, petrol prices today reached up to Rs. 93.77 per litre after a hike of 17 paise, while diesel has become expensive by 20 paise at Rs. 86.01 per litre. At the same time, petrol prices in Hyderabad went up by 18 paise at Rs. 94.34 per litre, while diesel prices in the city saw a hike of 21 paise at Rs. 88.46 per litre.

Also Read: Fuel Demand Down By 7% In April 2021: Report​

Right now, oil companies implement changes in fuel prices at 6 am every day

Fuel prices in India were hiked on May 4, 2021, after remaining stagnant for 18 days since April 15, 2021. That is when petrol and diesel prices last saw a price cut in 2021, witnessing a reduction of 16 paise per litre and 14 paise per litre, respectively.

Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum are the three leading oil marketing companies. Changes in fuel prices are implemented at 6 am every day. The prices are determined as per global benchmarks of crude oil rates, and by taking changes in the foreign exchange rates into account. The fuel rates vary from state to state in the country due to the value-added tax or VAT.