New Delhi, After poll results, petrol and diesel prices have been hiked marginally on Friday. The price of petrol was revised to Rs. 71.39 per litre in Delhi and Rs. 77 per litre in Mumbai with effect from 6 am on May 24, from Rs. 71.25 per litre and Rs. 76.86 per litre the previous day.
The price of diesel was changed to Rs. 66.45 per litre in Delhi and 69.63 per litre in Mumbai, marking a hike of 16 paise per litre and 17 paise per litre respectively compared to Thursday’s rates, according to Indian Oil Corporation (IOC).
Overall, the petrol prices have been lowered by Rs. 1.69-1.8 per litre – or 2.16-2.38 per cent – in Delhi, Mumbai, Kolkata and Chennai so far this month, and the diesel rates cut by 20-26 paise per litre.
Currently, the prices of petrol and diesel in the country are reviewed by state-run oil marketing companies such as Indian Oil Corporation on a daily basis. Any revisions are effected at the fuel pumps at 6 am.
The domestic fuel prices vary from state to state, and are determined broadly by the global crude oil and rupee-dollar forex rates.
