Petrol, Diesel Prices On May 28: Check Latest Fuel Rates In Delhi, Mumbai, Bengaluru, Kolkata And Other Cities

(MENAFN- Live Mint) Petrol and diesel prices across India remained largely unchanged on Thursday, 28 May. Prices across India rose sharply in May, with oil marketing companies (OMCs ) implementing four hikes between 15 and 25 May. Fuel rates in metro cities and several state capitals saw little to no movement Thursday despite volatility in global crude oil markets.

The cumulative increase of ₹7-8 per litre reflects global crude oil volatility and geopolitical tensions in West Asia.

The hike has pushed petrol prices above the ₹100-per-litre mark in several cities, including Delhi, Mumbai, Bengaluru and Hyderabad, while diesel prices have also climbed sharply.

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Brent crude traded near multi-month highs amid concerns over potential supply disruptions in key oil-producing regions. Global brokerage firms, including Goldman Sachs and JP Morgan , have warned that crude oil prices may remain volatile if geopolitical tensions persist.

Latest diesel prices in major cities on 28 May

Higher fuel costs may impact household budgets

Economists have cautioned that sustained fuel inflation could eventually raise transportation and logistics costs, which may feed into broader consumer inflation.

Speaking to LiveMint, Madhavi Arora, lead economist at Emkay Global Financial Services, said higher fuel prices could increase supply chain and freight expenses across sectors. Madan Sabnavis, chief economist at Bank of Baroda, also said that elevated diesel prices tend to have a wider inflationary impact because of diesel's role in goods transportation and agriculture.

The impact is expected to be particularly significant for logistics operators, trucking companies and app-based delivery platforms, where fuel accounts for a major share of operating expenses. Industry executives have indicated that any prolonged increase in diesel prices could eventually translate into higher freight charges.

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Meanwhile, fuel stations in parts of Maharashtra witnessed a surge in demand following the latest price hikes. According to a report by The Times of India, petrol sales in Nagpur rose 16% while diesel sales increased 19% compared to usual levels, leading to long queues at several fuel pumps across the city. State officials later clarified that fuel supplies remained adequate and appealed to consumers to avoid unnecessary bulk purchases.

The latest increase comes at a time when households are already grappling with elevated food prices and high living costs. Higher petrol and diesel prices directly impact commuters, public transport operators and businesses dependent on transportation, adding further pressure to monthly expenses.

Petrol and diesel prices in India are revised daily by Indian Oil, Bharat Petroleum and Hindustan Petroleum based on global benchmark prices and foreign exchange rates.

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