Fuel Prices Remain Steady Amid Rising Costs and Market Pressures
Petrol, Diesel price today (May 13): Check fuel rates in Delhi, Mumbai, Kolkata, Chennai and other cities
The Economic Times
Image: The Economic Times
As of May 13, fuel prices in major Indian cities like New Delhi and Mumbai remain unchanged despite rising global oil prices and financial pressures on oil companies. Petroleum Minister Hardeep Singh Puri indicated that public sector oil marketing companies are struggling with significant losses, raising concerns about potential future price hikes.
- 01Fuel prices in major cities like New Delhi and Mumbai remain stable as of May 13.
- 02Petrol is priced at ₹94.77 per litre in New Delhi, while diesel is at ₹87.67.
- 03Public sector oil marketing companies face projected losses of nearly ₹1 lakh crore for the April-June quarter.
- 04Minister Hardeep Singh Puri warned that sustained losses could lead to necessary price adjustments.
- 05The government may avoid drastic measures if crude oil prices fall to around $70 per barrel.
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On May 13, fuel prices remained unchanged in major Indian cities, with petrol priced at ₹94.77 per litre in New Delhi and diesel at ₹87.67. Despite this stability, Petroleum Minister Hardeep Singh Puri highlighted the financial strain on public sector oil marketing companies, which are projected to incur losses of nearly ₹1 lakh crore during the April-June quarter. Puri expressed concerns over the sustainability of these losses, suggesting that if the situation continues, a price hike may be inevitable. He indicated that the government could avoid drastic measures if the Strait of Hormuz reopens and crude oil prices decrease to around $70 per barrel. Fuel prices are adjusted daily based on global crude oil fluctuations and foreign exchange rates, and current rates in other cities include ₹103.49 in Mumbai and ₹104.99 in Kolkata.
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The stability of fuel prices may provide temporary relief to consumers, but ongoing financial pressures on oil companies could lead to future price hikes, impacting transportation and daily expenses.
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