Petrol and diesel prices held steady across India's major metropolitan areas on May 10, 2026. This pause comes amidst heightened political sensitivities following recent state election results and ongoing global crude market volatility, influenced by tensions in West Asia and disruptions to key shipping routes.
Current Fuel Prices in Key Cities (May 10, 2026)
- Delhi: Petrol ₹94.77 per litre, Diesel ₹87.67 per litre
- Mumbai: Petrol ₹103.54 per litre, Diesel ₹90.03 per litre
- Hyderabad: Petrol ₹107.46 per litre, Diesel ₹95.70 per litre
- Kolkata: Petrol ₹105.41 per litre, Diesel ₹92.02 per litre
- Bengaluru: Petrol ₹102.92 per litre, Diesel ₹90.99 per litre
- Chennai: Petrol ₹100.80 per litre, Diesel ₹92.39 per litre
While prices remained stable today, petrol continues to retail above ₹100 per litre in cities like Bengaluru, Hyderabad, Kolkata, Mumbai, and Chennai. Diesel prices, however, remain below the ₹100 mark nationwide.
Anticipated Price Hike
Despite the current stability, reports from sources indicate that public sector oil marketing companies (OMCs) are incurring heavy losses, estimated at approximately ₹30,000 crore per month. Consequently, a hike in petrol and diesel prices is likely to be implemented before May 15.
Factors Influencing Fuel Prices in India
Several interconnected factors determine the retail price of petrol and diesel at the pump in India:
- Global Crude Oil Prices: The international price of crude oil, the primary raw material, is the most significant determinant. Fluctuations in global crude markets directly impact domestic fuel costs.
- Rupee-Dollar Exchange Rate: India heavily relies on imported crude. A weakening Indian Rupee against the US Dollar increases the cost of crude procurement, which can lead to higher retail prices.
- Government Taxes: Both central and state governments levy substantial taxes on fuel. These taxes vary by state, explaining the differing prices across various cities.
- Transportation Costs: The cost of transporting fuel from refineries to distribution points and then to retail outlets also contributes to the final price.
- Demand-Supply Dynamics: Local demand and supply conditions can also play a role in minor price adjustments.
The upcoming days will be crucial as consumers await confirmation on the anticipated fuel price adjustments.