Petrol and diesel prices remain steady for more than a month on Wednesday, May 11. After 14 hikes were implemented by the Oil Marketing Companies (OMCs) across major cities between March and April 6, fuel prices have remained steady across the country. During the period of hike, fuel prices saw a cumulative increase of Rs 10 per litre.

On Wednesday, consumers of petrol in Delhi will have to pay Rs 105.41 per litre, while diesel in the national capital is retailing at Rs 96.67 per litre. In Mumbai, a litre of petrol is being retailed for Rs 120.51 and a litre of diesel costs Rs 104.77. Petrol in Kolkata is being sold for Rs 115.12 per litre, while diesel in the capital city of West Bengal is being sold for Rs 99.83 per litre. In Chennai, petrol retails at Rs 110.85 per litre while diesel price stands at Rs 100.94 per litre.

Public sector OMCs like Indian Oil Corporation Ltd (IOCL), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL) revise the fuel prices regularly. The price revisions made by the OMCs are influenced by factors like benchmark international crude oil prices and foreign exchange rates. Petrol and diesel price revisions made by these OMCs are implemented with effect from 6 am daily.

Fuel price revision varies from state to state. The prices of petrol and diesel differ across the states in the country since it is influenced by factors like local taxes, VAT (Value Added Tax), freight charges, among others.

Meanwhile, international crude oil prices tumbled more than one percent on Monday, according to Reuters. The drop in international crude oil prices also extended the previous day’s declines. This comes at a time when multiple coronavirus lockdowns take place in top oil importer China, a strong dollar and growing recession risks federal worries about the outlook for global demand.

Brent crude fell $1.31, or 1.2%, to $104.63 at 0216 GMT after slipping to as low as $103.19; while the US West Texas Intermediate crude fell $1.25, or 1.2%, to $101.84 a barrel after hitting an intraday low of $100.44.

Petrol, Diesel Prices on Wednesday, May 11, in Delhi, Chennai and Other Major Cities in India:

Delhi

Petrol – Rs 105.41 per litre

Diesel – Rs 96.67 per litre

Mumbai

Petrol – Rs 120.51 per litre

Diesel – Rs 104.77 per litre

Kolkata

Petrol – Rs 115.12 per litre

Diesel – Rs 99.83 per litre

Chennai

Petrol – Rs 110.85 per litre

Diesel – Rs 100.94 per litre

Bhopal

Petrol – Rs 118.14 per litre

Diesel – Rs 101.16 per litre

Hyderabad

Petrol – Rs 119.49 per litre

Diesel – Rs 105.49 per litre

Bengaluru

Petrol – Rs 111.09 per litre

Diesel – Rs 94.79 per litre

Guwahati

Petrol – Rs 105.66 per litre

Diesel – Rs 91.40 per litre

Lucknow

Petrol – Rs 105.25 per litre

Diesel – Rs 96.83 per litre

Gandhinagar

Petrol – Rs 105.29 per litre

Diesel – Rs 99.64 per litre

Thiruvananthapuram

Petrol – Rs 117.19 per litre

Diesel – Rs 103.95 per litre

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