State owned oil marketing companies on Saturday again hiked prices of petrol and diesel by 87 paise and 91 paise respectively. With this third hike in 10 days, prices have gone up by nearly ₹5 a litre.

With the latest revision a litre of petrol will now cost ₹99.51 a litre and diesel ₹92.49 a litre in Delhi.

In Kolkata, petrol is priced at ₹110.64 per litre following a 94 paise increase, while diesel now costs ₹97.02 per litre after a 95 paise hike.

In Mumbai, petrol rates have gone up by 90 paise to ₹108.49 per litre. Diesel in the city has increased by 94 paise and now stands at ₹95.02 per litre.  

In Chennai, petrol is now being sold at ₹105.31 per litre after an 82 paise hike, while diesel prices have risen by 87 paise to ₹96.98 per litre. Rates continue to vary from state to state due to differences in value-added tax (VAT).

This is the third increase in rates since May 15, when state-owned oil companies started passing on the almost 50 per cent hike in crude prices arising from the West Asia conflict in a calibrated manner.

Prices were hiked by ₹3 a litre on May 15, followed by a 90 paise increase on May 19.  India relies on imports for nearly 85 per cent of its crude oil requirements, making domestic fuel prices vulnerable to fluctuations in global markets. The fresh hike is likely to put additional pressure on commuters, transporters and businesses across multiple sectors.

Petrol and diesel prices are now at their highest levels since May 2022. Rates had remained frozen since April 2022 except for a ₹2-per-litre cut in March 2024 ahead of Lok Sabha elections. The fuel price increases come amid broader efforts by the government to contain India’s oil import bill and reduce fuel consumption.

The hike comes a day after the Ministry of Petroleum and Natural Gas had assured that, despite rumours, India has adequate petrol and diesel supplies.

“India has adequate availability of petrol and diesel supplies across the country continue to remain stable. Citizens are advised to avoid panic buying and purchase fuel only as per actual requirement. Temporary pressure at some retail outlets is being addressed through continuous supply monitoring and coordinated distribution efforts by Oil Marketing Companies,” read a tweet by the ministry.

It also further added that responsible consumption and public cooperation will help ensure smooth fuel availability for everyone during the ongoing high-demand period.

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Published on May 23, 2026