Petrol, Diesel Prices Hiked Again, 3rd Time in Less Than 10 Days; Check Latest Rates in Delhi, Kolkata, Mumbai, Chennai
Petrol and diesel prices hiked again on May 23 - the third revision in 10 days. Petrol now at INR 99.51/litre in Delhi, diesel at INR 92.49/litre. Check latest fuel rates across all metro cities here.
Fuel prices in India have been revised upward for the third time in just 10 days, with petrol prices rising by 87 paise per litre and diesel by 91 paise per litre effective Saturday, May 23. The back-to-back hikes, driven by elevated global energy prices linked to the ongoing Middle East conflict, are being passed on to consumers in a calibrated manner by state-owned oil marketing companies. Petrol now costs INR 99.51 per litre in Delhi, while diesel is priced at INR 92.49 per litre.
Fuel Price Hike Timeline: How We Got Here
The current round of fuel price revisions began on May 15, when oil companies announced a sharp INR 3 per litre increase - the first hike after a prolonged period of stable rates. A second revision of 90 paise per litre followed on May 19. Saturday's third hike of 87-91 paise takes the cumulative increase to nearly INR 5 per litre in under 10 days - a significant jump for household budgets and businesses relying on road transport. CNG Price Hike Today, May 23: Delhi-NCR Rates up 3rd Time in 10 Days; Check Latest Rate.
Latest Petrol Prices Today (May 23) - Key Cities
| City | Petrol Price (INR/litre) | Change |
|---|---|---|
| Delhi | 99.51 | +0.87 |
| Kolkata | 110.64 | +0.94 |
| Mumbai | 108.49 | +0.90 |
| Chennai | 105.31 | +0.82 |
| Gurugram | 100.38 | +0.87 |
| Noida | 98.78 | +0.87 |
Latest Diesel Prices Today (May 23) - Key Cities
| City | Diesel Price (INR/litre) | Change |
|---|---|---|
| Delhi | 92.49 | +0.91 |
| Kolkata | 97.02 | +0.95 |
| Mumbai | 95.02 | +0.94 |
| Chennai | 96.98 | +0.87 |
| Gurugram | 92.92 | +0.91 |
| Noida | 93.12 | +0.91 |
Why Are Petrol and Diesel Prices Rising?
The sharp spike in fuel prices is a direct consequence of the escalating Middle East conflict, which has disrupted global crude oil supply chains and pushed international energy prices higher. India, which imports over 85% of its crude oil requirements, remains highly sensitive to global price movements. State-owned oil companies - Indian Oil, BPCL, and HPCL - had been absorbing rising input costs for several weeks before beginning to pass them on to consumers from May 15 onward.
What This Means for Consumers
For daily commuters and commercial transporters, three hikes in 10 days translate into a visible dent in monthly fuel expenditure. A vehicle filling 40 litres of petrol is now paying approximately INR 200 more per tankful compared to prices before May 15. For fleet operators and logistics companies running on diesel, the compounding hikes add significant pressure on operating margins.
Analysts expect fuel prices to remain volatile in the near term, with further revisions possible if crude oil prices do not stabilise.
Petrol and diesel prices vary across states due to differences in local taxes, VAT, and freight charges. To check the exact fuel price in your city today, send an SMS to your oil company's helpline or use the respective fuel company apps - Indian Oil's FuelBuddy, HP Pay, or BPCL SmartDrive.
(The above story first appeared on LatestLY on May 23, 2026 07:19 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).