Petrol and diesel prices today hikes in Hyderabad, Delhi, Chennai, Mumbai on 16 May 2021

Petrol and Diesel prices today, 16 May 2021: Petrol and diesel prices have hiked at all major cities on Sunday. The fuel rates mentioned below are due at 6 am and are subject to change at any time as the petroleum companies such as Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corporation Ltd (IOCL) will alter the fuel prices based on the crude oil prices.

The fuel prices are subjected to change depending on the crude oil prices at the international market that impacts the domestic market. Moreover, economic growth also the reason for the rise and fall of petrol prices. In addition, the fuel prices alter depending on the state government policies and the taxes imposed. The petroleum Companies increases cost as and when the government hikes the tariffs to regains the losses incurred.

Going by the prices, the petrol prices in Delhi are holding at Rs. 92.58 with a hike of 24 paise and diesel price at Rs. 83.22 with 27 paise hike. The petrol prices in Hyderabad remained at Rs. 96.22 with a hike of 25 paise and diesel at Rs. 90.73 with 30 paise hike.

In Chennai, the petrol price per litre costs Rs. 94.31 with a hike of 23 paise and the diesel is priced at Rs. 88.07 with 19 paise hike The situation is similar in Mumbai with petrol price per litre at Rs. 98.88 with a hike of 23 paise and the diesel prices remained at Rs. 90.40 with 29 paise hike. Petrol prices today in Bangalore is at Rs. 95.33 with a fall of 8 paise while diesel recorded at Rs. 87.92 with a fall of 2 paise.