Petrol, Diesel Prices Unchanged On May 23; Here's How Much You Pay For Fuel Now
In Mumbai, petrol is priced at Rs 103.50 per litre, and diesel costs Rs 90.03.
Fuel rates were held steady on Friday, unchanged across most metro cities. The last major revision in petrol prices was in March 2024, when the rate was cut by Rs 2 per litre.
Here are the updates on the petrol and diesel prices on May 23, 2025: In Delhi, a litre of petrol is retailed at Rs 94.77, and diesel costs Rs 87.67. In Mumbai, petrol is priced at Rs 103.50 per litre, and diesel costs Rs 90.03. In Chennai petrol is now sold at Rs 100.99 a litre, and diesel costs Rs 92.57. Petrol is sold at Rs 105.41 in Kolkata, and diesel is priced at Rs 92.02.
In India, fuel prices have remained steady since May 2022, after the central government and various state governments reduced fuel taxes.
Currently, oil marketing companies such as state-run Indian Oil Corporation review the domestic prices of petrol and diesel on a daily basis, and any changes – determined broadly by the global crude oil prices and the foreign exchange rates – are effected at the fuel stations at 6 a.m.
The price revisions method, or the dynamic fuel price methodology, considers several factors such as international crude prices, the exchange rate of the rupee against the dollar, actual and expected demand, and the trade flow in global crude markets.
On Friday, crude oil prices extended their decline for the fourth session, with Brent crude – the global benchmark for crude oil – falling 0.62% to $64.04 per barrel. This decline comes as OPEC and its allies discuss another major output quota increase of 4.11 lakh barrels per day for July. However, no final decision has been made, according to a Bloomberg report.
The Brent crude had slipped below $59, the lowest level since February 2021, last week. In April alone, the benchmark fell nearly 16%, the biggest decline since November 2021. The decline in the benchmark through April was due to higher production amid demand fears. This is the second consecutive month of production hikes. Additionally, tariffs have raised fears of a recession that will slow demand. However, crude in the month of May has seen some recovery following that easing in the trade war between the US and China.
Additionally, crude through this year has fallen 14%, hitting the lowest since 2021 last month on the back of OPEC+ loosening supply curbs at a faster-than-expected pace amid the US-led trade war.
