Petrol and diesel price today: Petrol and diesel prices climbed for the third straight day across the country on Thursday, May 6, 2021. In the national capital, the petrol price rose by 25 paise while that of diesel inched up 30 paise.
This is the third consecutive revision in fuel prices this month. Prior to this, petrol and diesel prices were unchanged for 18 days with the previous revision taking place on April 15, 2021.
Following the latest price revision, petrol in Delhi is now retailing at Rs 90.99 a litre while diesel is selling at Rs 81.42. In the financial capital Mumbai, petrol price now stands at Rs 97.34 while diesel costs Rs 88.49, data available on Indian Oil Corporation’s website showed.
The price of petrol had breached the Rs 100-mark in two places in Rajasthan and Madhya Pradesh during the month of February, which levy the highest VAT on the fuel in the country. In these two cities, the key auto fuel rose to Rs 101.85 in Rajasthan’s Sri Ganganagar, while diesel here was available at Rs 94.05 per litre. In Madhya Pradesh’s Anuppur, petrol now costs Rs 101.57 per litre and diesel is selling for Rs 92.06.
Petrol and diesel prices differ from state to state depending on the local taxation (VAT) and freight charges.
The central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.
Oil marketing companies (OMCs) in recent months had resorted to an unexplained freeze in daily rate revision. They had paused after cutting prices marginally on April 15. This coincided with the election campaigns hitting their peak for electing new governments in five key states. As soon as the assembly polls ended, the OMCs indicated an impending rise in retail prices in view of the rising trend in global oil markets.
In the international market, oil prices rose on Thursday, recouping early losses, as crude stockpiles in the United States, the world’s largest oil consumer, fell more sharply than expected as refining output rose and exports surged, news agency Reuters reported earlier in the day.
Brent crude oil futures rose by 17 cents (0.3 per cent) to $69.13 a barrel by 0343 GMT, and US West Texas Intermediate (WTI) crude futures gained by 8 cents (0.1 per cent0 to $65.71 a barrel. Both benchmarks had hit their highest since mid-March on Wednesday before retreating, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Thursday, May 6, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|