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Petrol, diesel prices on May 1: Check the latest rates in your city

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Petrol, diesel prices on May 1: Check the latest rates in your city

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On Monday, oil marketing companies (OMCs) kept fuel rates across major cities unchanged, making it almost one year (May 21, 2022) since the previous pan-India revision to petrol and diesel prices.

On May 21 last year, the previous pan-India revision to fuel prices was done (Representative)
On May 21 last year, the previous pan-India revision to fuel prices was done (Representative)

This, therefore, means that in Delhi, a litre each of petrol and diesel continues to be available for 96.72 and 89.62 respectively, and the corresponding prices in Mumbai are 106.31 and 94.27. In Kolkata, meanwhile, a customer must continue to shell 106.03 for a litre of petrol, and 92.76 for an equal quantity of diesel. For Chennai, the prices remain at 102.63 for 1 litre of petrol and 94.24 for 1 litre of diesel.

How fuel prices are determined in India?

OMCs such as Indian Oil, Bharat Petroleum and Hindustan Petroleum review petrol and diesel ratees on daily basis. These are determined in accordance with the price of crude oil throughout the world.

Why fuel prices vary across states?

This is due to criteria such as Value Added Tax (VAT), freight charges, local taxes etc. The rates, meanwhile, whether new or unchanged, are announced at 6 am each day.



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