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Fuel prices across India remained unchanged on Tuesday, 9 June, after oil marketing companies (OMCs) last increased petrol and diesel rates on 25 May by more than ₹2.50 per litre, according to market data.

The latest pause in price movement comes after a series of four hikes in less than two weeks in May, which cumulatively pushed fuel costs higher by nearly ₹7.5 per litre since 15 May.

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Fuel Prices Remain Unchanged After May Hikes

OMCs had raised petrol prices by ₹2.61 per litre and diesel by ₹2.71 per litre on 25 May. Following this revision, fuel rates have stayed steady across major cities, including Delhi, Mumbai, Kolkata and Bengaluru.

In Delhi, petrol is priced at ₹102.12 per litre and diesel at ₹95.20 per litre, unchanged since the last revision in May.

Fuel prices in India are currently at their highest levels since May 2022, after remaining largely frozen for over two years, except for a ₹2 per litre cut in March 2024.

City-Wise Petrol And Diesel Prices On June 9

West Asia Conflict Impacted Fuel Pricing Cycle

The earlier increase in fuel prices was driven by global crude oil volatility triggered by conflict in West Asia, which disrupted supply routes and delayed cost pass-through by oil marketing companies.

The region accounts for a significant portion of India’s energy imports, including nearly 40% of crude oil, around 65% of natural gas, and about 90% of LPG supplies, according to market estimates cited in reports.

Global crude oil prices also surged by around 40%, reaching close to $100 per barrel, as disruptions affected shipments passing through key trade routes, including the Strait of Hormuz, which carries a large share of global oil and gas flows.

Government Outlook On Fuel Prices

Union Petroleum and Natural Gas Minister Hardeep Singh Puri, in an interview with CNN-News18, said fuel prices are expected to ease in the coming months, citing sufficient global stock availability despite ongoing geopolitical tensions.

He added that India currently holds oil and gas reserves sufficient for about 76–80 days and noted that additional supplies from countries such as the United States and Canada could help stabilise availability.

According to OMCs, petrol and diesel prices have increased by around 7.8% and 8.6% respectively since the recent revision cycle began in May, reflecting higher global crude costs.

In the near term OMC pricing decisions are expected to be closely related to changes in international crude oil and geopolitical developments, and gasoline prices are expected to be susceptible to global supply restrictions.