Petrol And Diesel Prices On May 11: Fuel Rates Remain Stable In Delhi, Mumbai, Kolkata, Bengaluru

Petrol and diesel prices remained unchanged across major Indian cities on May 11 as state-run oil marketing companies continued to hold retail fuel rates steady despite volatility in global crude oil prices.

According to publicly available fuel price data, petrol in New Delhi continued to retail at ₹94.77 per litre, while diesel prices remained at ₹87.67 per litre. Mumbai petrol prices stood at ₹103.54 per litre and diesel at ₹90.03 per litre.

The stability in domestic fuel prices comes even as geopolitical tensions in West Asia continue to impact global energy markets and crude oil supply concerns remain elevated.

Fuel Prices In Major Cities On May 11

PM Modi Calls For Judicious Fuel Use

Prime Minister Narendra Modi said India should use imported petroleum products carefully amid the ongoing global energy uncertainty linked to the West Asia conflict.

Speaking at an event in Telangana, the Prime Minister said restrained use of petrol, diesel and gas would help reduce pressure on foreign exchange reserves and limit the economic impact of global conflicts.

He also highlighted India’s progress in solar power generation and ethanol blending programmes aimed at reducing dependence on imported fuels.

OMCs Continue To Absorb Higher Costs

According to a PTI report citing sources, state-run oil marketing companies are currently absorbing losses of nearly ₹1,600 crore to ₹1,700 crore per day to keep retail fuel prices unchanged.

The report stated that cumulative under-recoveries over the past 10 weeks have crossed ₹1 lakh crore following the rise in international crude oil prices after the Middle East conflict.

Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation have continued supplying petrol, diesel and LPG without major price revisions despite higher crude oil costs.

Petrol and diesel prices in India have largely remained at levels seen over the past two years even as global crude oil prices have increased sharply during recent months.