Fuel prices across India witnessed mixed movement on May 21 as oil marketing companies released the latest petrol and diesel rates. While cities such as Delhi, Kolkata, Gurugram, and Bengaluru saw no change in prices, consumers in Chennai, Jaipur, Patna, and a few other cities received slight relief. On the other hand, fuel became costlier in Noida, Bhubaneswar, and Thiruvananthapuram.
Before heading to the petrol pump, vehicle owners are advised to check the latest rates in their city, as prices continue to vary from state to state due to taxes and transportation costs.
Fuel Prices Stable in Delhi and Bengaluru
Several major cities witnessed no revision in petrol and diesel prices today.
Latest Petrol Prices in Major Cities
- Delhi: Petrol ₹98.64/litre, Diesel ₹91.58/litre
- Kolkata: Petrol ₹109.70/litre
- Gurugram: Petrol ₹99.38/litre
- Bengaluru: Petrol ₹107.16/litre
Oil companies kept prices unchanged in these cities despite fluctuations in global crude oil markets.
Relief for Consumers in Chennai, Jaipur, and Patna
Some cities saw marginal reductions in fuel prices.
Chennai
- Petrol fell by 35 paise to ₹104.57/litre
- Diesel became cheaper by 33 paise
Jaipur
- Petrol price dropped by 30 paise to ₹108.70/litre
Mumbai
- Petrol became cheaper by 4 paise
- Diesel remained stable at ₹94.08/litre
Consumers in Patna, Lucknow, Chandigarh, and Hyderabad also benefited from slight declines in fuel prices.
Petrol and Diesel Become Costlier in Noida and Bhubaneswar
While some cities got relief, fuel prices increased in several others.
Noida
- Petrol rose by 19 paise to ₹98.65/litre
- Diesel increased by 19 paise to ₹91.93/litre
Bhubaneswar
- Petrol climbed by 21 paise to ₹105.33/litre
Thiruvananthapuram
- Petrol increased by 18 paise to ₹111.71/litre
- Diesel surged by 29 paise to ₹100.59/litre
Why Fuel Prices Differ Across Cities
Petrol and diesel prices vary across states because of multiple factors, including:
- State VAT (Value Added Tax)
- Central excise duty
- Transportation costs
- Dealer commissions
- International crude oil prices
- Dollar-rupee exchange rate fluctuations
This is why fuel prices differ even between neighboring cities.
Global Crude Oil Prices Continue to Rise
In the international market, crude oil prices witnessed fresh gains after recovering from recent declines.
- Brent Crude traded above $105 per barrel
- WTI Crude remained close to $99 per barrel
Market analysts believe crude prices strengthened after comments by former US President Donald Trump suggesting that negotiations with Iran were nearing the final stage, raising hopes of improved global supply conditions.
Despite occasional corrections, crude oil prices have reportedly surged more than 40% since late February.
Oil Companies and Government Absorbing Pressure
Even with rising crude oil prices, the direct burden on Indian consumers has been relatively limited compared to several global economies.
Public sector oil companies reportedly absorbed higher input costs for nearly 76 days, resulting in under-recoveries estimated at around ₹24,500 crore before fuel prices were revised upward in phases.
The central government also reduced excise duty to contain fuel inflation, reportedly sacrificing significant tax revenue to stabilize retail prices.
Compared to several countries where petrol prices have risen sharply, India’s fuel price increase has remained relatively moderate in recent months.
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