Current Fuel Rates Across Major Indian Cities
On May 12, 2026, petrol and diesel prices across India held steady despite ongoing tensions in West Asia and disruptions to global shipping routes affecting crude oil markets. This pause in price adjustments comes amid heightened political sensitivities following recent state election results.
Delhi, Mumbai, Chennai, and More
In the national capital, Delhi, petrol continues to retail at ₹94.77 per litre, with diesel priced at ₹87.67 per litre. However, prices remain significantly higher in Mumbai, where petrol is sold at ₹103.54 per litre and diesel at approximately ₹90.03 per litre.
Several other major Indian cities also saw petrol prices exceeding the ₹100 mark:
- Hyderabad: Petrol at ₹107.46, Diesel at ₹95.70
- Kolkata: Petrol at ₹105.45, Diesel at ₹92.02
- Bengaluru: Petrol at ₹102.96, Diesel at ₹90.99
- Chennai: Petrol at ₹100.80, Diesel at ₹92.39
Why Fuel Prices May Rise Soon
Despite the current stability, sources indicate that petrol and diesel prices are likely to be hiked before May 15. This anticipated increase is attributed to the substantial losses incurred by public sector oil marketing companies (OMCs), estimated at nearly ₹30,000 crore per month.
Understanding India's Fuel Price Dynamics
A complex interplay of global, economic, and domestic factors determines the retail price of fuel in India. These include:
Global Factors
- International Crude Oil Prices: The cost of crude oil, the primary raw material for both petrol and diesel, is the most significant determinant of retail fuel prices.
- Rupee-Dollar Exchange Rate: As India heavily relies on imported crude, a weakening rupee against the US dollar increases the cost of procurement, directly impacting domestic fuel prices.
Domestic Influences
- Government Taxes: Both central and state governments levy various taxes on fuel, comprising a substantial portion of the final price. This is a primary reason for price variations across different states.
- Transportation Costs: The cost of transporting fuel from refineries to distribution points and retail outlets also factors into the final consumer price.
- Demand-Supply Conditions: Local demand and supply dynamics can also play a role in minor price adjustments within specific regions.