Fuel prices across India held steady on May 13, 2026, offering a temporary reprieve to consumers amidst ongoing global crude market volatility. This stability comes as tensions in West Asia and disruptions to key shipping routes continue to keep international oil prices on edge.
Metro Fuel Rates on May 13
Despite the nationwide stability, significant price variations persisted across major Indian metros. In the capital, Delhi, petrol was retailed at ₹94.77 per litre, with diesel at ₹87.67 per litre. Mumbai residents faced higher costs, with petrol priced at ₹103.50 per litre and diesel at approximately ₹90.03 per litre.
Other major cities like Hyderabad, Kolkata, Bengaluru, and Chennai also saw petrol prices above the ₹100 mark, while diesel remained below ₹100 per litre:
- Hyderabad: Petrol ₹107.46, Diesel ₹95.70
- Kolkata: Petrol ₹105.41, Diesel ₹92.02
- Bengaluru: Petrol ₹102.92, Diesel ₹90.99
- Chennai: Petrol ₹100.84, Diesel ₹92.39
Anticipated Price Hike Looms
Sources indicate that public sector oil marketing companies (OMCs) are incurring substantial losses, estimated at nearly ₹30,000 crore per month. This financial strain suggests that petrol and diesel prices are likely to be hiked across the country before May 15, potentially ending the current period of stability.
Factors Influencing Fuel Prices in India
The price consumers pay at the pump in India is a complex interplay of several factors:
- International Crude Oil Prices: This is the single largest determinant, as India heavily relies on imported crude.
- Rupee-Dollar Exchange Rate: A weaker rupee makes crude imports more expensive, directly impacting retail prices.
- Government Taxes: Both central and state governments levy taxes, which form a significant portion of the final price and explain inter-state variations.
- Transportation Costs: The logistics of moving fuel from refineries to pumps also add to the final cost.
- Demand-Supply Dynamics: Local market conditions can also influence pricing.