Petrol, Diesel price today (May 13): Check fuel rates in Delhi, Mumbai, Kolkata, Chennai and other cities

While uncertainty regarding gasoline and diesel prices continues due to the deepening West Asian crisis, customers closely follow fuel prices on a daily basis. There was no change in gasoline and diesel prices on Wednesday. Public sector oil marketing companies may not be able to bear daily losses of Rs 1,000 crore due to sale of petrol and diesel at below market price, Petroleum Minister Hardeep Singh Puri said on Tuesday. This situation once again fueled speculation that gasoline and diesel prices are approaching.

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“They are incurring losses to insulate the consumer. (But) at some stage the government will have to take a call,” Puri said at CII’s annual business summit, without making a clear comment on the much-awaited price hike. “How long will oil companies be able to sustain this (losses)? Frankly, that’s something that worries me,” he said.

Gasoline, diesel prices today

Petrol and diesel prices in Mumbai, Delhi, Kolkata, Chennai and other cities remained stable on Wednesday (May 13). Fuel prices are revised daily at 6 am by oil marketing companies (OMCs) in line with fluctuations in global crude oil benchmarks and exchange rates. In the capital, petrol and diesel are currently priced at Rs 94.77 and Rs 87.67 per litre, respectively.

According to Hardeep Singh Puri, oil retailers were facing significant financial pressure due to projected recoveries of less than Rs 2 lakh crore and losses of around Rs 1 lakh crore in the April-June quarter, potentially wiping out profits earned in the previous financial year. The official said the government could refrain from taking “drastic measures” only if the Strait of Hormuz is reopened and crude oil prices fall to around $70 per barrel.