After registering regular hikes last month, petrol and diesel rates were kept unchanged across the four metro cities for the sixth consecutive day today, by the country’s biggest state-run oil refiner Indian Oil. Petrol prices were last hiked on Saturday, February 27, by 24 paise per litre in the national capital, to an all-time high of Rs 91.17. Since then, fuel rates have remained steady across all four metro cities. According to Indian Oil Corporation, currently, the highest fuel prices are in Mumbai where petrol is at ₹ 97.57 per litre and diesel at ₹ 88.60 per litre.
Here are the current prices of petrol and diesel (in rupees per litre):
|Source: Indian Oil|
Oil marketing companies – Bharat Petroleum, Indian Oil Corporation, and Hindustan Petroleum align the rates of domestic fuel with the global benchmarks, by taking into account any alterations in the foreign exchange rates. Any changes in fuel rates are implemented with effect from 6 am each day. Additionally, the domestic petrol and diesel prices vary across states due to the value added tax (VAT).
Fuel prices in the country have witnessed a hike since January 2021 due to a rally in global crude oil prices. The country has been hit hard by the soaring oil prices. Oil Minister urged producers to ease output cuts and help the global economic recovery from the COVID-19 pandemic.