Fuel prices across India remained steady on May 9, 2025, with minor fluctuations observed in specific cities. In Bhubaneswar, petrol was priced at Rs 100.97 per litre, while diesel cost Rs 92.55 per litre. Meanwhile, in Cuttack, petrol was slightly higher at Rs 101.48 per litre, and diesel was priced at Rs 93.04 per litre. These prices reflect a broader trend of stability in fuel costs that has persisted since May 2022, following significant tax reductions by both the central and state governments.
In the metropolitan city of Chennai, petrol was recorded at Rs 100.80 per litre, and diesel was available for Rs 92.39. This stability comes in the wake of an excise duty hike announced on April 7, 2025, which increased the excise duty on petrol and diesel by Rs 2 per litre, bringing it to Rs 13 for petrol and Rs 10 for diesel.
The steady pricing of fuel is largely attributed to oil marketing companies' daily reviews of petrol and diesel prices, which consider a variety of factors including global crude oil prices and the exchange rate of the Indian rupee against the US dollar. On May 9, 2025, petrol prices in key Indian cities were as follows: Delhi at Rs 94.77 per litre, Kolkata at Rs 105.01, Mumbai at Rs 103.50, and Chennai at Rs 100.80. Diesel prices were similarly stable, with Delhi at Rs 87.67, Kolkata at Rs 91.82, Mumbai at Rs 90.03, and Chennai at Rs 92.39.
According to industry experts, the last significant adjustment in petrol prices occurred in March 2024, when a reduction of Rs 2 per litre was implemented. Since then, prices have held steady, reflecting a cautious approach by the government and oil companies amid fluctuating global oil markets.
On the same day, Brent crude oil prices saw a slight increase of 0.17%. Earlier in the week, Brent crude had dipped below $59, marking the lowest level since February 2021. This decline was attributed to heightened production levels amid fears of reduced demand, as April alone recorded a 15.6% drop in the benchmark price, the largest since November 2021.
The dynamics of fuel pricing in India are complex, influenced by not just international crude prices, but also by domestic demand and supply conditions. The government’s recent tax policies have played a crucial role in shaping the current landscape of fuel prices, with many consumers hoping for further stability in the coming months.
As fuel prices are a significant concern for many households, the government’s approach to managing these costs will be closely monitored. With the ongoing fluctuations in global crude prices and the potential for economic shifts, consumers are left wondering how long this stability will last.
In summary, the prices of petrol and diesel across major cities in India remained largely unchanged on May 9, 2025. With petrol at Rs 100.97 per litre in Bhubaneswar and diesel at Rs 92.55, the trend of stable fuel prices is a welcome relief for consumers. However, the implications of global oil market dynamics will continue to play a pivotal role in determining future pricing strategies.
