Petrol and diesel prices were unchanged for the 34th consecutive day on Tuesday across metro cities. In Delhi, a litre of petrol costs Rs 105.41, while the diesel rate stands at Rs 96.67 per litre.
Fuel rates were last raised by 80 paise per litre on April 6, marking the 14th increase since March 22 that made petrol and diesel costlier by Rs 10 a litre, respectively.
Currently, petrol is currently retailed at Rs 120.51 per litre in Mumbai, while diesel is sold at Rs 104.77.
Petrol now costs Rs 110.85 in Chennai, while diesel price stands at Rs 100.94. In Kolkata, petrol is retailed at Rs 115.12 and diesel is sold at Rs 99.83.
Fuel prices are the highest in Mumbai among all four metro cities. The rates vary across states due to the value-added tax (VAT).
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The rates were held steady for over four months despite the spike in crude oil prices amid assembly elections in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.
State-run oil refiners such as Indian Oil Corp, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
India is 85 per cent dependent on imports to meet its oil needs and, the domestic petrol and diesel prices are linked to international rates.
Globally, oil prices see-sawed today after the Group of Seven (G7) nations committed to phasing out imports of Russian oil over time. After an initial fall, Brent was last quoted 32 cents higher at $112.71, while U.S. crude added 19 cents to $109.96.