Fuel Price Hike: Petrol up by Rs. 2.58, diesel by Rs. 2.26

Fuel prices have once again been hiked in the country. Petrol prices in New Delhi have been increased by Rs. 2.58 per litre, while diesel prices have been hiked by Rs. 2.26 per litre. After this recent price revision, petrol in Delhi-NCR now costs Rs. 65.60 per litre, while diesel is priced at Rs. 53.93 per litre. Revised prices are applicable from the midnight of 31st May and 1st June.

Fuel prices are revised every fortnight on the 1st and 16th of each month. This revision is done by the joint decision of state-owned fuel retailers like Bharat Petroleum Corporation Ltd. (BPCL), Indian Oil Corp (IOC), and Hindustan Petroleum Corporation Ltd (HPCL). The decision to hike or cut fuel prices is taken after looking into various factors like average crude oil price and the Rupee - US Dollar exchange rate.

Fuel prices were increased previously on May 16th, when petrol went up by 83 paise per litre, while diesel became costlier by Rs. 1.26 per litre.