Outlook Business Desk
Petrol and diesel prices saw only minor revisions across major Indian cities on May 7 despite sharp swings in global crude oil markets. Changes remained limited to a few paise even as oil marketing companies continued reporting significant losses on fuel sales.
Petrol price in Delhi stood at ₹94.77 per litre while diesel remained at ₹87.67. In Mumbai petrol sold at ₹103.54 per litre and diesel at ₹90.03 showing higher fuel rates compared to several other major Indian cities.
Kolkata recorded petrol price at ₹105.45 per litre and diesel at ₹92.02. In Chennai petrol remained at ₹100.80 while diesel stood at ₹92.39 with prices seeing only marginal changes on May 7.
Ahmedabad petrol sold at ₹94.49 and diesel at ₹90.16 while Hyderabad recorded ₹107.46 and ₹95.70. Patna Bengaluru and Lucknow also witnessed slight revisions with fuel prices changing only by a few paise.
Social media rumours suggested a sharp fuel hike of ₹10 per litre for petrol and ₹12.5 for diesel. However the Press Information Bureau (PIB) fact check unit clarified that the Government of India has not issued any such order.
Meanwhile oil marketing companies are selling petrol at a loss of ₹14 per litre and diesel at ₹18 per litre as elevated crude oil prices continue to pressure retail fuel margins across the country.
While, domestic LPG cylinder price remains unchanged at ₹913 per 14.2 kg cylinder in Delhi despite global volatility while commercial LPG rates have seen significant upward revision in major cities reflecting market pressures across country.
Commercial LPG 19 kg cylinder prices have been raised three times since February 28. March increase was ₹144 and nearly ₹200 in April. Delhi at ₹3,071.50 from ₹2,078.50 and Mumbai at ₹3,024 from ₹2,031.