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Petrol, diesel prices remain unchanged on Wednesday; Check today's rates

BusinessToday.In     May 22, 2019

State-owned oil marketing companies (OMCs) have kept petrol and diesel prices unchanged across the country on Wednesday, after two successive hike following the conclusion of 2019 Lok Sabha elections.

As per the Indian Oil Corporation data, petrol remained unchanged at Rs 71.17 per litre in Delhi, while diesel stood at Rs 66.20 per litre on Wednesday.

In Mumbai, petrol prices stood at Rs 76.78 per litre, while diesel was at Rs 69.36 per litre. In Kolkata and Chennai, petrol was static at Rs 73.24 and Rs 73.87 per litre respectively, while diesel stood at Rs 67.96 and Rs 69.97 per litre, respectively.

The rates of fuel are revised everyday in the morning. The change in domestic fuel prices also depend upon international fuel prices and the value of rupee.

Meanwhile, crude oil prices edged lower by 0.55 per cent to 71.78 per barrel on Wednesday as investors turned caution ahead of weekly data on domestic oil inventories. The decline came after Brent Crude surged to USD 73/bbl on Tuesday.

Also Read: Rupee gains 5 paise to 69.67 against US dollar in early trade

In the last two day, fuel prices were hiked by the oil marketing companies after the conclusion of the Lok Sabha Elections 2019 polling. The India Today-Axis My India poll gave 339-365 seats to the BJP-led NDA. Meanwhile, the Congress-led UPA is expected to bag 77-108 seats and the SP-BSP-RLD combine might secure a victory on 10-16 seats. Others are likely to come on top in 59-79 seats, as per the exit poll.

Most exit polls predicted an easy victory for the incumbent BJP-led National Democratic Alliance (NDA), while Congress-led United Progressive Alliance (UPA) is expected to report a significant improvement from 2014's 44 seats.

Edited by Chitranjan Kumar

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