The prices of petrol and diesel remained unchanged on May 20, Wednesday across major Indian cities after the fuel rates saw a hike of 90 paise per litre yesterday. Last week, the fuel prices were raised by Rs 3 per litre. The prices of petrol and diesel remain in key focus after US President Donald Trump threatened fresh strikes against Iran in the coming days, keeping global crude markets on edge.
After the elections, expectations grew that petrol and diesel prices could be raised to help state-run oil marketing companies recover some of their losses, especially as Brent crude prices have surged sharply following the US and Israeli strikes on Iran in late February. Since then, crude oil prices have witnessed a steep rally amid rising geopolitical tensions in the Middle East.
