Petrol, diesel prices on 13 May: What fuel costs in New Delhi, Mumbai, Kolkata, Bengaluru today

Petrol and diesel prices remained broadly unchanged across India on 13 May, even as concerns over energy security grew amid the West Asia crisis and as Prime Minister Narendra Modi urged citizens to conserve fuel and cut unnecessary consumption.

The government has not announced any nationwide revision in retail fuel prices so far, despite sustained pressure from elevated global crude oil prices driven by geopolitical tensions in the Middle East.

The PM's remarks urging reductions in fuel use and edible oil consumption, and the postponement of non-essential gold purchases, have fuelled speculation about possible demand-control measures, though no such steps have been confirmed.

In response to the evolving situation, the government held a high-level review meeting and reiterated that India is not facing any shortage of petroleum products, adding that state-run oil marketing companies are absorbing substantial financial losses to shield consumers from global price volatility.

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Government Reviews Energy Preparedness

The fifth meeting of the Informal Group of Ministers (IGoM) on West Asia was chaired by Defence Minister Rajnath Singh on Monday. The meeting brought together ministers from the petroleum, railways, civil aviation, fertilisers, ports and science ministries.

According to an official briefing cited in a Mint report, India currently has 60 days of crude oil and natural gas reserves, along with 45 days of LPG rolling stock. The government said the reserve position is sufficient to manage supply-side risks arising from the ongoing geopolitical situation.

Officials said there is “no reason for anxiety” and urged citizens not to rush to retail outlets. They further said that India’s foreign exchange reserves remain comfortable at about $703 billion, offering an additional cushion against external energy shocks.

Oil Companies Facing Mounting Financial Pressure

Even as retail fuel prices remain unchanged, the government acknowledged the growing economic burden created by high international crude oil prices.

According to a PTI report, state-owned oil marketing companies are currently absorbing losses of nearly ₹1,600 crore to ₹1,700 crore every day to protect consumers from a sharp spike in fuel costs.

Over the last 10 weeks since the escalation of conflict in the Middle East, cumulative losses suffered by these companies have reportedly crossed ₹1 lakh crore.