As of May 27, 2025, fuel prices across major Indian cities remain largely stable, following a period of relative steadiness since May 2022, after reductions in fuel taxes by both the central and state governments. While global crude oil prices and foreign exchange rates continue to influence daily reviews by oil marketing companies like Indian Oil Corporation, the current rates reflect a continuation of recent trends.
In Delhi, petrol is retailing at Rs 94.77 per liter, while diesel is priced at Rs 87.67 per liter. Mumbai sees higher prices, with petrol at Rs 103.50 per liter and diesel at Rs 90.03 per liter. Chennai's rates are Rs 100.80 for petrol and Rs 92.39 for diesel. Kolkata has petrol priced at Rs 105.41 per liter and diesel at Rs 92.02 per liter. These prices reflect the rates effective as of 6 a.m. today, consistent with the daily revision schedule.
The last significant change in petrol prices occurred in March 2024, when rates were reduced by Rs 2 per liter. The current stability is attributed to a combination of factors, including government policies and the dynamic fuel price methodology used by oil companies. This methodology considers international crude prices, the rupee-dollar exchange rate, demand forecasts, and global crude market trade flows.
Global crude oil prices are showing some volatility. Brent crude, the global benchmark, experienced a slight dip of 0.15% to $64.64 per barrel ahead of an OPEC+ meeting where supply policies will be discussed. Earlier in May, Brent crude had fallen to below $59, the lowest since February 2021. April saw a substantial decline of nearly 16%, the largest since November 2021. However, prices have somewhat recovered due to easing trade tensions between the US and China. Concerns about potential impacts from US-led trade wars and OPEC+ supply adjustments continue to loom over the market.
In related news, in the Philippines, gasoline prices experienced a slight increase, while diesel prices saw a decrease. Several petroleum companies, including SHELL PILIPINAS, SEAOIL, and CALTEX, implemented a P0.10 per liter increase for gasoline and a P0.20 per liter decrease for diesel. The Department of Energy noted that factors such as OPEC's optimistic demand outlook and progress in US-Iran nuclear talks are influencing these price adjustments. Supply issues in certain provinces are also being addressed to prevent price hikes due to logistical challenges.
