Petrol and diesel prices remained unchanged for the 31st consecutive day in metro cities on Saturday, May 7, 2022. In Delhi, a liter of petrol costs Rs 105.41 while the diesel rate is Rs 96.67 per litre.
Fuel prices were last increased by 80 paise per liter on April 6, the 14th increase since March 22, making petrol and diesel 10 rupees per liter respectively more expensive.
Currently, petrol is sold for Rs 120.51 per liter in Mumbai while diesel is sold for Rs 104.77. Fuel prices are highest in Mumbai of all four metro cities.
Petrol costs Rs 110.85 in Chennai while diesel is sold for Rs 100.94. In Kolkata, petrol is sold for Rs 115.12 per liter and diesel is sold for Rs 99.83.
Click here to check fuel rates in metros and other cities
Previously, between November 4, 2021 and March 22, 2022, fuel prices were held steady despite the spike in global crude oil prices, as parliamentary elections were held in politically crucial states such as Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.
State-run oil refineries such as Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum revise fuel tariffs daily, taking into account crude oil prices in international markets and exchange rates of the rupee and dollar. Any changes in fuel prices will be implemented daily from 6am.
India is 85 percent dependent on imports to meet its oil needs and domestic gasoline and diesel prices are linked to international tariffs.
Global crude oil prices rose as Brent crude rose to $112.4 a barrel, while US West Texas Intermediate (WTI) crude rose to $109.8 a barrel in the previous session.