As of May 28, 2025, petrol and diesel prices across Indian cities have remained largely stable. Fuel rates are reviewed daily by oil marketing companies like Indian Oil Corporation, taking into account global crude oil prices and exchange rates. The last significant change in prices occurred in March 2024, when petrol prices were reduced by Rs 2 per litre.
In Delhi, petrol is retailing at Rs 94.77 per litre, while diesel costs Rs 87.67 per litre. Mumbai sees petrol priced at Rs 103.50 per litre and diesel at Rs 90.03 per litre. Chennai residents pay Rs 100.80 for a litre of petrol and Rs 92.39 for diesel. Kolkata has the highest petrol price among the metros at Rs 105.41 per litre, with diesel selling at Rs 92.02 per litre. These prices reflect no change from the previous day, indicating a period of stability in the market.
The stability in fuel prices can be attributed to several factors. Firstly, the government's decision to reduce fuel taxes in May 2022 provided a cushion against fluctuations in international crude oil prices. Secondly, global crude oil prices have seen some recovery in May after a decline in April, which helps maintain the current price levels. Brent crude, the global benchmark, rose by 0.76% to $64.58 per barrel ahead of an OPEC+ meeting that will decide on supply policies.
The dynamic fuel pricing mechanism, implemented since June 2017, ensures that petrol and diesel prices are revised daily at 6 a.m. This system aims to enhance transparency and curb speculative practices by reflecting real-time market conditions. Factors influencing these prices include international crude prices, the rupee-dollar exchange rate, demand, and global crude market trade flows.
State-wise variations exist due to differences in state taxes, transportation costs, and local regulations. For instance, in Arunachal Pradesh, petrol is priced at Rs 92.37 per litre, a slight decrease from the beginning of May. Maharashtra sees diesel being traded at an average of Rs 91.32. Tamil Nadu has diesel being traded at an average price of Rs 93.39.
Consumers can stay updated on daily price changes through various platforms, including the websites and mobile applications of oil marketing companies. This transparency enables informed decisions regarding fuel consumption. While global factors continue to influence domestic fuel prices, the current stability offers a respite to consumers amidst fluctuating economic conditions.
