Fuel rates continued to remain steady on Wednesday, May 4, 2022 as petrol, diesel prices were unchanged, as per the price notification by the state-run fuel retailers.Petrol price in Delhi costs ₹105.41 per litre while diesel costs ₹96.67. In Gurugram, one litre of petrol costs ₹105.86 and ₹97.10 for one litre of diesel. Meanwhile, in Mumbai, the prices of petrol and diesel stood at ₹120.51 and ₹104.71 respectively.In Chennai, the petrol and diesel prices are at ₹110.85 and ₹100.94 per litre . In Kolkata, the price of petrol is ₹115.12 and diesel is ₹99.83 . In Bengaluru, one litre of petrol will cost ₹111.09 and one litre of diesel will cost ₹94.79.The fuel prices witnessed last hiked by 80 paise a litre each on April 6, taking the total increase in rates in 16 days to ₹10 per litre. Fuel prices are decided based on the international prices, excise duty, state value-added taxes (VAT), and other charges.Oil prices rose today as industry data pointed to a drop in US stockpiles and traders monitored possible European Union curbs on Russian crude. Oil has been buffeted by volatility this year, while posting monthly gains, as Russia’s invasion of Ukraine rocks markets and investors prepare for central banks to tighten policy to contain elevated inflation.Oil marketing companies like Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise petrol and diesel prices across India on a daily basis as fuel prices have been linked with international prices and foreign exchange rates.