Fuel Prices Stable Amid Global Tensions and Domestic Price Increases in India
Petrol, Diesel Price Today: Check fuel rates in Delhi, Mumbai, Kolkata as sugar exports halted, milk gets costlier and gold import duty doubled
The Economic Times
Image: The Economic Times
As of May 14, petrol and diesel prices in major Indian cities remain stable despite rising global crude oil prices and ongoing conflicts in West Asia. The Indian government has halted sugar exports and raised import duties on gold to manage domestic prices, while milk prices have also increased by ₹2 per litre.
- 01Petrol and diesel prices remain stable across India as of May 14.
- 02Milk prices have increased by ₹2 per litre by major suppliers like Amul and Mother Dairy.
- 03India has banned sugar exports until September 30, 2026, to stabilize domestic prices.
- 04The Reserve Bank of India's Governor warns of potential fuel price hikes if global tensions persist.
- 05Oil marketing companies are absorbing daily losses of nearly ₹1,000 crore due to rising crude prices.
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On May 14, petrol and diesel prices in major Indian cities, including New Delhi and Mumbai, remained stable despite rising global crude oil prices and ongoing conflicts in West Asia. The government has not raised fuel prices yet, with oil marketing companies (OMCs) absorbing losses of nearly ₹1,000 crore daily. Meanwhile, the Gujarat Cooperative Milk Marketing Federation (Amul) and Mother Dairy have increased milk prices by ₹2 per litre. Additionally, India has imposed a ban on sugar exports until September 30, 2026, to ensure adequate domestic supply amid fears of declining sugarcane yields. The Reserve Bank of India Governor, Sanjay Malhotra, indicated that prolonged global tensions could lead to inevitable fuel price increases. Despite these challenges, officials have assured that there is no fuel shortage in the country, with sufficient stocks maintained for about 60 days.
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The stability of fuel prices helps consumers avoid immediate financial strain, but potential future increases could affect transportation and goods prices.
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