Petrol and diesel prices remained unchanged on May 14 across major Indian cities despite ongoing volatility in global crude oil markets, which continue to hover near $106 per barrel. Retail fuel rates stayed steady even as concerns mount over rising input costs and potential pressure on state-owned oil marketing companies.
In the national capital, petrol continued to be priced at ₹94.77 per litre while diesel remained at ₹87.67 per litre. In financial hub Mumbai, petrol was unchanged at ₹103.50 per litre and diesel at around ₹90.01 per litre. Prices in other major metros, including Kolkata and Chennai, also showed no revision for the day, reflecting a continued pause in retail adjustments.
The stability in pump prices comes even as global crude oil benchmarks remain elevated amid geopolitical uncertainty and supply concerns linked to the ongoing Iran conflict. Market observers note that sustained high crude prices are increasing pressure on domestic fuel pricing, but retail adjustments have been deferred so far.
Also Read: Fuel Price Check: Petrol‑Diesel Rates In Mumbai, Hyderabad, Chennai, Kolkata
Petroleum Minister Hardeep Singh Puri recently acknowledged that public sector oil marketing companies are currently absorbing significant losses, estimated at nearly ₹1,000 crore per day, as fuel is being sold below market-linked costs. He warned that such losses may not be sustainable if elevated crude prices persist over a longer period.
According to estimates cited by officials, total under-recoveries for oil marketing companies could rise substantially if crude oil prices remain near current levels. The situation has been further complicated by fluctuations in the rupee-dollar exchange rate and elevated global energy demand, both of which impact India’s import bill.
Analysts say retail fuel prices in India are influenced by multiple factors, including international crude oil benchmarks, currency movement, and domestic taxes such as excise duty and state VAT. While prices remain stable for now, experts caution that continued volatility in global oil markets could eventually force revisions in petrol and diesel rates across Indian cities.
Also Read: Fuel Price Check: Petrol‑Diesel Rates In Mumbai, Hyderabad, Chennai, Kolkata