Petrol prices are the highest in 5 years at Rs 74.5 per litre while diesel is at its all-time high at Rs 66.36 per litre in Delhi after the second hike this month. Fuel rates were not raised for 19 straight days since 24 April for almost three weeks ahead of Karnataka assembly polls.

Monday, that is one day after the election, petrol was up by 17 paise while diesel saw a 21 paise hike at Rs 74.8 per litre and Rs 66.14 per litre in Delhi respectively. The prices were up again today by 15 paise for petrol and 22 paise for diesel on an average in the Indian metro cities.

Petrol prices per litre (in rupees) in metro cities on May 15:

Petrol prices per litre (in rupees) in state capitals on May 15:

Diesel prices per litre (in rupees) in metro cities on May 15:

Diesel prices per litre (in rupees) in state capitals on May 15:

Fuel prices in India are affected by the crude oil rates internationally. The weakening of the rupee along with rising international prices are responsible for the hike in India. Petroleum is one of the biggest items in India's import bill, as it is highly dependent on other countries for its domestic fuel demand.

International crude oil benchmark Brent was increased to $78.33 per barrel (nasdaq.com) from a little over $77 per barrel last week. Reduction in oil production by the Organization of Petroleum Exporting Countries (OPEC), reduced oil output in Venezuela, political tensions around the oil-rich Iran and strengthening of the US dollar can all be factored in for the increase.

Fuel prices above are taken from iocl.com.