After an 18-day gap, petrol and diesel prices were raised to 18 paise across the metros on Tuesday, May 4, 2021. According to the Indian Oil Corporation, petrol prices in Delhi have been increased by 15 paise, from Rs 90.40 per litre to Rs 90.55 per litre, and diesel prices have been adjusted by 18 paise, from Rs 80.73 per litre to Rs 80.91 per litre. According to the state-run oil refiner, the updated rates of petrol and diesel in Mumbai are Rs 96.95 per litre and Rs 87.98 per litre, respectively. Mumbai currently has the highest petrol prices among the four metro cities. Due to the value-added tax, petrol and diesel rates differ across states in India. Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, all state-owned oil marketing firms, sync domestic fuel prices with global crude oil prices by factoring in fluctuations in foreign exchange rates. The latest fuel price will go into effect at 6 a.m. every day. Indian Oil, Bharat Petroleum, and Hindustan Petroleum all saw their share prices rise after the country's largest state-run oil distributor, Indian Oil, raised petrol and diesel rates after an 18-day hiatus on Tuesday. Indian Oil jumped 1.63 percent, Bharat Petroleum 2%, and Hindustan Petroleum 3.2 percent.
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