Petrol, diesel prices on May 31: Check latest rates in your city
Continuing the year-long price stability trend, the prices of petrol and diesel remained unchanged on Wednesday as compared to the figures of Tuesday. Fuel rates in major cities including Delhi, Mumbai, Kolkata and Chennai have remained same since May 21 last year, when the centre announced to slash the excise duty on petrol and diesel.
Oil Marketing Companies (OMCs) like Indian Oil, Bharat Petroleum and Hindustan Petroleum review and update petrol and diesel prices daily based on the most recent market trends.
The rates for each day, whether new or unchanged, are announced daily at 6 am. These, however, vary from state-to-state due to Value Added Tax (VAT), freight charges, local taxes etc.
