Petrol-Diesel Pumps Hold May 13 Rates; OMCs Bleed Rs 1,700 Cr/Day, Rs 5/L Hike Looms
Retail fuel prices stayed flat across most metros on May 13 — Delhi petrol at Rs 94.77, Mumbai at Rs 103.50 — even as Brent near $107 pushed OMC under-recoveries to Rs 1,600-1,700 cr daily. A Cabinet meeting Wednesday is weighing a Rs 5/litre pass-through; cumulative losses could hit Rs 1.2 lakh cr in Q1 FY27. Commercial 19kg LPG has already been raised thrice since February.
What happened
Indian Oil Marketing Companies · On May 13, Indian petrol/diesel prices held steady except Jaipur and Lucknow. OMCs face Rs 1,600-1,700 cr daily losses amid
Key facts
- Brent ~$107/bbl
- WTI ~$102
- OMC losses Rs 1,600-1,700 cr/day
- Rs 1 lakh cr in 10 weeks
- Petrol Delhi 94.77
- Diesel Delhi 87.67
- Petrol Mumbai 103.50
- Diesel Mumbai 90.03
- LPG 14.2kg Delhi Rs 913
- Commercial 19kg LPG Delhi Rs 3,071.50
- Potential Q1 FY27 loss Rs 1.2 lakh cr
- Proposed hike Rs 5/litre
Why this matters
Prolonged OMC balance-sheet stress at Rs 1 lakh cr cumulative losses opens a window for upstream-downstream integration plays, private retail network acquisitions at distressed valuations, and LPG distributorship consolidation.