Zoom News : May 07, 2021, 11:55 AM
New Delhi: Petrol and diesel prices have been hiked up to 31 paise across the metros on Friday, May 7, 2021. In Delhi, petrol prices have been increased by 28 paise from ₹ 90.99 per litre to ₹ 91.27 per litre and diesel prices have been raised by 31 paise from ₹ 81.42 per litre to ₹ 81.73 per litre, according to Indian Oil Corporation. In Mumbai, the revised prices of petrol and diesel are ₹ 97.61 per litre and ₹ 88.82 per litre respectively, according to the state-run oil refiner. Presently, fuel prices are the highest in Mumbai among the four metro cities. Petrol and diesel prices vary across states in India due to the value-added tax.The state-run oil marketing companies, Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, align the rates of domestic fuel with the global crude oil prices by taking into account changes in the foreign exchange rates. The new changes in fuel prices are implemented with effect from 6 am each day.Meanwhile, oil prices edged up in early Asian trade after a 1 per cent dip in the previous session, as global economic recovery and easing travel curbs in the United States and Europe buoyed the fuel demand outlook. Brent crude futures for July were at $68.17 a barrel by 0052 GMT, up 8 cents, while U.S West Texas Intermediate (WTI) crude for June rose 9 cents to $64.80.