On May 5, petrol and diesel prices in India remained unchanged despite a significant increase in global oil prices, which surged over 6%. In New Delhi, petrol is priced at ₹94.77 per litre and diesel at ₹87.67 per litre, while in Mumbai, petrol costs ₹103.50 and diesel ₹90.01. The Central government has dismissed rumors of a price hike, clarifying that no official order has been issued. Oil marketing companies are currently facing losses of ₹14 per litre on petrol and ₹18 per litre on diesel due to high crude prices, which have outpaced capped retail rates. This situation is compounded by geopolitical tensions affecting oil supply, particularly in the Strait of Hormuz, a crucial oil transit route. The government has opted to keep domestic LPG rates stable, although commercial LPG prices have seen significant increases recently.