Petrol, diesel prices on May 15: Check latest rates in your city

Petrol and diesel prices in India remained mostly stagnant on Monday, remaining steady for close to a year. The price of fuel differs from state to state according to local taxes, Value Added Tax (VAT) and freight charges.

Petrol and diesel prices bore no change in Delhi, Mumbai, Chennai and Kolkata, while some cities saw a slight rise and dip in the last 24 hours.

Petrol can be bought in Delhi at ₹96.72 per litre, while a litre of diesel stands at ₹89.62. In Mumbai, petrol retails at ₹106.31 per litre. One litre of diesel in the financial capital costs ₹94.27. Petrol and diesel rates in Kolkata are priced at ₹106.03 and ₹92.76 per litre, respectively.

In Noida, however, a litre of petrol and diesel became cheaper by 23 paise and 22 paise respectively, and currently stands at ₹96.53, and ₹89.71. According to the latest price notification by oil marketing companies, petrol price in Gurugram went up by 9 paise to ₹97.10 per litre, while diesel also became dearer by 8 paise ₹89.96 per litre.

Bharat Petroleum Corporation Limited (BPCL), India Oil Corporation (IOCL) and Hindustan Petroleum Corporation Limited (HPCL) revise the rate of fuel daily at 6 am, if there any any updates, as per international benchmarks and foreign exchange rates.

Oil prices slipped on Monday as concerns about fuel demand at top global oil consumers in the U.S. and China offset optimism about tightening supplies from any OPEC cuts and a resumption in U.S. buying for reserves.

Last week, both benchmarks fell for a fourth consecutive week, the longest streak of weekly declines since September 2022, over concern that the United States could enter a recession on “significant risk” of a historic default within the first two weeks of June.

(With inputs from Reuters)