- In Mumbai, the prices of petrol and diesel stood at ₹120.51 and ₹104.71 respectively
Fuel rates continued to remain steady on Saturday, May 7, 2022 as petrol, diesel prices were unchanged, as per the price notification by the state-run fuel retailers.
Petrol price in Delhi costs ₹105.41 per litre while diesel costs ₹96.67. In Gurugram, one litre of petrol costs ₹105.86 and ₹97.10 for one litre of diesel. Meanwhile, in Mumbai, the prices of petrol and diesel stood at ₹120.51 and ₹104.71 respectively.
In Chennai, the petrol and diesel prices are at ₹110.85 and ₹100.94 per litre . In Kolkata, the price of petrol is ₹115.12 and diesel is ₹99.83 . In Bengaluru, one litre of petrol will cost ₹111.09 and one litre of diesel will cost ₹94.79.
The fuel prices witnessed last hiked by 80 paise a litre each on April 6, taking the total increase in rates in 16 days to ₹10 per litre. Fuel prices are decided based on the international prices, excise duty, state value-added taxes (VAT), and other charges.
Oil marketing companies like Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise petrol and diesel prices across India on a daily basis as fuel prices have been linked with international prices and foreign exchange rates.
Oil prices rose overnight, posting a second straight weekly increase as impending European Union sanctions on Russian oil raised the prospect of tighter supply and had traders shrugging off worries about global economic growth. For the week, WTI gained about 5%, while Brent nearly 4%.
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