Petrol and diesel prices remained unchanged across India on Sunday, May 10, even as public sector oil marketing companies (OMCs) face mounting losses of nearly Rs 30,000 crore per month.
The pause in fuel price adjustments comes amid soaring global crude rates and heightened tensions in West Asia.
In Delhi, petrol sells at Rs 94.77 per litre and diesel at Rs 87.67. Mumbai records higher rates at Rs 103.54 for petrol and Rs 90.03 for diesel. Kolkata and Chennai report Rs 105.41 and Rs 100.84 for petrol, with diesel priced at Rs 92.02 and Rs 92.39 respectively. Hyderabad tops the list at Rs 107.50 for petrol and Rs 95.70 for diesel.
Officials acknowledged that state-run oil companies are incurring heavy losses by selling fuel and LPG below market prices. They warned that losses cannot be sustained indefinitely, particularly as crude prices remain elevated at over $100 per barrel.
The government has already reduced excise duty by Rs 13 per litre on petrol and Rs 10 per litre on diesel, but officials noted limited scope for further cuts. Other countries, including Japan, Spain, and France, have raised pump prices by 30–35% since the West Asia conflict began, while India has held rates steady.
Speculation continues that fuel prices may be revised before May 15, as OMCs struggle to absorb the financial burden.
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