Petrol, diesel prices hiked for second consecutive day; Check today’s rate in Mumbai

Fuel charges in the nation elevated sharply by 19 paise per litre for petrol and 21 paise for diesel on Wednesday, May 5 as Oil Marketing Companies (OMCs) continued to cowl for their losses on holding again worth rise for the previous 18 days on account of state elections.

Prices of petrol and diesel have been hiked for the second consecutive day on May 5 after an extended hiatus. Yesterday, prices rose by 15 paisa and 18 paisa per litre respectively after an 18-days break.

With today’s hike, petrol is now being retailed at INR 90.74 a litre and diesel INR 81.12 a litre in the nationwide capital.

Meanwhile, in Mumbai, the prices elevated to INR 97.12 per litre and INR 88.19 per litre for petrol and diesel, respectively.

According to stories, OMCs might start rising the retail worth of petrol and diesel post-state elections as they have been incurring losses to the tune of INR 2-3 per litre by holding the value line regardless of larger international crude and product prices. The oil corporations had already elevated the ATF prices by 6.7 per cent efficient this month.

Earlier, the value of the 2 auto fuels had fallen by 16 paise and 14 paise per litre respectively on April 15 after a 15-day break when OMCs stored its prices static. Thereafter revision of gas prices has been halted.

The OMCs went on worth reduce for the primary time this yr on two consecutive days – March 24 and 25 after preserving oil prices regular for the previous 24 days. It once more diminished the value on March 30. Thereafter, gas prices have remained unchanged for the previous 15 days earlier than falling once more on April 15. In all petrol prices have fallen by 77 paise per litre whereas diesel by 74 paise per litre in 2021 thus far.

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