Noida, May 23 (APAC Media): Petrol and diesel prices were increased once again on Saturday, marking the third hike in less than 10 days amid continued volatility in global crude oil markets, according to state-run oil marketing companies.
Petrol prices were raised by 87 paise per litre, while diesel rates were increased by 91–97 paise per litre across major cities. With the latest revision, fuel prices have seen a cumulative rise of nearly Rs 5 per litre since mid-May, reversing a period of relative stability earlier this year.
Metro City-wise Petrol & Diesel Prices (23.05.26)
| City | Petrol (₹/L) | Change (₹) | Diesel (₹/L) | Change (₹) |
|---|---|---|---|---|
| Delhi | 99.51 | +0.87 | 92.49 | +0.91 |
| Kolkata | 110.64 | +0.94 | 97.02 | +0.95 |
| Mumbai | 108.49 | +0.90 | 95.02 | +0.94 |
| Chennai | 105.31 | +0.82 | 96.98 | +0.87 |
In the national capital, petrol is now priced at around Rs 99.51 per litre, while diesel stands at approximately Rs 92.49 per litre. Similar upward revisions were reported in Mumbai, Kolkata and Chennai, where retail prices are inching closer to key psychological levels, adding pressure on household budgets and transport operators.
This is the third revision in fuel prices within eight to ten days, driven largely by fluctuations in international crude oil benchmarks.
Market sources indicated that concerns over supply constraints, along with geopolitical tensions in key producing regions, have contributed to the recent upward trend in global oil prices.
Oil marketing companies — Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited — revise retail fuel prices daily in line with international benchmark rates and exchange rate movements.
“Inflation is rising day by day, and repeated fuel price hikes are making travel, transport and daily expenses costlier, especially due to higher diesel rates. The government should take steps to control inflation.” A consumer said.
The steady increase in pump prices has drawn criticism from opposition parties, which have raised concerns over rising inflationary pressures and the impact on essential commodities and transport costs.
Economists noted that sustained fuel price hikes could feed into broader retail inflation, particularly in logistics and food supply chains, if the trend continues in the coming weeks.
Officials indicated that further price adjustments remain dependent on global crude oil movements, which continue to show volatility amid uncertain supply conditions.
Disclaimer: Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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