All metro cities held steady fuel rates on Wednesday. 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 28, 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 100.80 a litre, and diesel costs Rs 92.39. 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 Wednesday, crude rose with Brent crude – the global benchmark for crude oil – rising 0.76% to $64.58 per barrel ahead of an OPEC+ meeting that will decide on the supply policy and with markets considering the prospect for additional US sanctions on Russia.
The Brent crude had slipped below $59, the lowest level since February 2021, earlier this month. In April alone the benchmark fell nearly 16%, showing the biggest decline since November 2021. However, crude in the month of May has seen some recovery following the easing in the trade war between the US and China.
Additionally, crude through this year has fallen 12.88% as the fallout from Trump's sweeping tariffs and the retaliatory measures weighed on the demand. In addition, OPEC+ loosening supply curbs at a faster-than-expected pace amid the US-led trade war also impacted the index.
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