Petrol and diesel prices increased in all major metro cities in India on the 14th of May. This is the fourth time this week that petrol and diesel prices have increased in the Country.
On the 23rd of January, the prices touched a new high with a hike of 0.25 paise per litre.
The price notification from oil marketing companies informed, petrol price rise in Delhi, Mumbai and Hyderabad.
In Delhi the petrol price is Rs. 92.34 per litre and in Mumbai the price is Rs. 98.65.
Diesel rate climbed to Rs. 82.95 a litre and Rs. 90.11 per litre in Delhi and Mumbai, respectively.
The price of one litre of petrol in Bengaluru and Hyderabad has surged to Rs. 95.41/litre, Rs. 95.97 /litre respectively.
Similarly, diesel has touched Rs. 87.94 /litre and Rs. 90.43 /litre, in Bengaluru and Hyderabad, respectively, as of the 14th of May.
State-owned fuel retailers — Indian Oil Corporation Ltd., (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) update prices of the crude oil every day at 6:00 A.M.
The major reason behind the rise in prices is to balance retail prices in line with global developments due to the rise in crude oil prices.
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