Fuel prices across India remained steady as of May 13 as global crude oil remained on edge as the tensions in the Middle East remained unresolved.
Petrol and diesel prices in Mumbai on May 13, 2026, witnessed marginal changes compared to the previous day. Petrol is priced at Rs 103.50 per litre, down by 4 paise from Rs 103.54, while diesel continues to remain steady at Rs 90.03 per litre. At present, petrol prices range approximately Rs 82 to Rs 109 per litre, while diesel prices vary between Rs 78 and Rs 97 per litre, depending on state taxes, transportation costs, and regional pricing structures.
“India may eventually have to raise retail petrol and diesel prices if the conflict in the Middle East continues for a prolonged period, Reserve Bank of India Governor Sanjay Malhotra said, as there seems to relief in Middle East conflict. If this is to continue for longer period of time, it is just a matter of time before the government will pass on some of the price increases,” Malhotra added at a conference hosted by the Swiss National Bank and the International Monetary Fund in Switzerland on Tuesday.
His remarks followed Prime Minister Narendra Modi’ advice to voluntary austerity, including cutting down on petrol and diesel use and putting off gold purchases, to preserve foreign exchange reserves.
The disrupted supply chain has increased inflationary risks which is largely dependent on the gulf nations for it crude oil reserves. With the closure of the Strait of Hormuz disrupting the flow of critical energy imports, pushing up crude oil prices and triggering shortages of cooking gas, India world’s third largest oil consumer has reported significant shortage.
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