Petrol, diesel prices today, May 9: Check prices in Delhi, Mumbai, Kolkata, Chennai, Hyderabad, other cities

Fuel prices across India held steady on May 9, even as global crude markets remain on edge amid tensions in West Asia and disruptions to key shipping routes. The pause in the prices comes amid heightened political sensitivities after the state election results came out.

In Delhi, petrol continues to retail at ₹94.77 per litre, while diesel is priced at ₹87.67 per litre. Prices remain higher in Mumbai, where petrol is selling at ₹103.54 per litre and diesel at about ₹90.03 per litre.

In major cities such as Bengaluru, Hyderabad and Kolkata, petrol prices are still above ₹100 per litre, while diesel remains below ₹100.

Check latest petrol rates here

Meanwhile, petrol and diesel prices are likely to be hiked before May 15 as public sector oil marketing companies (OMCs) continue to suffer heavy losses estimated at nearly ₹30,000 crore per month, sources told Business Today. 

Fuel prices in key cities (May 9)

Check latest diesel rates here

What drives petrol and diesel prices in India?

A combination of global, economic, and domestic factors shapes fuel prices at the pump. At the heart of it is the international price of crude oil, the base raw material for both petrol and diesel, which has the single biggest bearing on what consumers ultimately pay.

The rupee-dollar exchange rate is another key variable, given that India relies heavily on imported crude. When the rupee weakens against the dollar, the cost of procuring crude rises, which can feed directly into higher retail fuel prices.

Why do prices differ across different cities?

On top of that, taxes levied by both the central and state governments make up a substantial portion of the final price, which is why petrol and diesel rates differ across states. Transportation costs and prevailing demand-supply conditions also factor into the retail price consumers see at the pump.