Petrol, diesel prices on May 18: What are the latest rates in your city?
Across major cities, fuel prices have been largely steady since May 21 last year, when the previous pan-India revision was done.
Petrol and diesel prices have largely remained unchanged in major cities on Thursday, according to goodreturns.com. Fuel rates in major cities including Delhi, Mumbai, Kolkata and Chennai have remained same since May 21 last year, when the previous pan-India revision to fuel prices was done.
People in Delhi will have to continue to pay ₹96.72 for a litre of petrol and ₹89.62 for an equal quantity of diesel. while people in Mumbai must pay ₹106.31 and ₹94.27 respectively.
However, fuel price in places including NCR and few cities in Uttar Pradesh have seen minor changes. For example, cost of one litre petrol in Gurugram has gone down 21 paise, as opposed to Noida where price increased 31 paise. Cost of one litre petrol in Lucknow decreased 26 paise.
Here are the rates, meanwhile, for other major cities:
|Cities||Petrol (per litre)||Diesel (per litre)|
How do OMCs determine fuel prices?
OMCs such as Indian Oil, Bharat Petroleum and Hindustan Petroleum review and determine petrol and diesel prices on a daily basis. These are determined in accordance with the price of crude oil throughout the world.
Why fuel prices vary across states?
The rates for each day, whether new or unchanged, are announced at 6 am on the day . These, however, vary from state-to-state; this is due to criteria such as Value Added Tax (VAT), freight charges, local taxes etc.