This is the 13th hike in 22 days, making petrol costlier by Rs 3.04 a litre and diesel by Rs 3.59 since May 4. Surging international oil rates and exorbitant domestic tax structure are two key reasons for high rates of petrol and diesel in pumps. Crude oil price dataGlobal oil prices surged on demand optimism and a snag on the possibility of lifting the US sanction on Iranian crude supply. Therefore, crude oil demand increased, and on Tuesday crude oil prices shot up. On Wednesday, petrol in the Delhi market remained at Rs 93.44 per liter and diesel at Rs 84.32 per liter.

Source: dna May 26, 2021 08:12 UTC