Petrol, Diesel price today: What are the latest rates on May 7, 2026? Check cost in Delhi, Mumbai & more

NEW DELHI: Petrol and diesel prices remained unchanged across major cities in India on Thursday, even as global crude oil prices continued to rise amid geopolitical uncertainty in West Asia.Government sources, however, have not ruled out a possible fuel price hike in the near future as oil marketing companies continue to face mounting losses due to a four-year freeze in retail fuel prices despite the sharp rise in crude oil costs.According to sources, oil marketing companies are currently selling petrol at a loss of around Rs 14 per litre and diesel at a loss of nearly Rs 18 per litre.In Delhi, petrol continued to retail at Rs 94.77 per litre, while diesel remained unchanged at Rs 87.67 per litre. Fuel prices remained higher in Mumbai, where petrol was being sold at Rs 103.50 per litre and diesel at around Rs 90.01 per litre.

Fuel prices in major cities

City	Petrol Price (per litre)	Diesel Price (per litre)
Delhi	Rs 94.77	Rs 87.67
Mumbai	Rs 103.49	Rs 90.03
Kolkata	Rs 104.99	Rs 91.81
Chennai	Rs 100.79	Rs 92.39

Global oil prices rose in early trade on Thursday after witnessing a sharp fall in the previous session, as investors assessed the prospects of a possible Middle East peace deal.Brent crude futures rose 88 cents, or 0.9 per cent, to $102.15 per barrel, while US West Texas Intermediate crude gained $1.12, or 1.2 per cent, to $96.20 per barrel.Both benchmarks had fallen more than 7 per cent on Wednesday, touching two-week lows amid optimism over a possible end to the Middle East conflict.