According to Indian Oil Corporation, petrol and diesel prices remained unchanged on Friday, May 28th.
Fuel rates go different across the states in the country due to value-added tax or VAT.
Petrol prices are steady at ₹ 93.68 per liter and diesel prices are constant at ₹ 84.61 per liter in the National capital.
During assembly elections in states such as West Bengal, the prices have been hiked 14 times since May 4 when state-owned oil firms ended an 18-day stop in rate revision.
In some of the cities of the states like Rajasthan and Madhya Pradesh, the petrol rates have already crossed the ₹ 100-mark.
The prices of diesel and petrol are decided based on rates of domestic fuel with that of global crude oil prices by taking into account changes in the foreign exchange rates. All the state gov.-run oil marketing companies including Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum follow the same to set price.
On Thursday Oil prices dipped as concern about demand in India and the potential for a rise in Iranian supplies.
|Source: Indian Oil|