Fuel prices across India were hiked again on May 23, 2026, with petrol rising by up to 87 paise per litre and diesel by 91 paise per litre. This marks the third increase in just 10 days, adding nearly ₹5 per litre cumulatively since May 15.
In Delhi, petrol now costs ₹99.51 per litre and diesel ₹92.49 per litre. Mumbai recorded petrol at ₹108.49 and diesel at ₹95.02, while Kolkata saw one of the sharpest hikes with petrol at ₹110.64 and diesel at ₹97.02. Chennai reported petrol at ₹105.31 and diesel at ₹96.98.
State-owned oil companies attribute the hike to global crude volatility and tensions in West Asia, with Brent crude prices crossing $100 per barrel. The increases are expected to ripple through the economy, raising transport costs, food inflation, and household budgets.
Critics argue the timing of the hikes, delayed during Assembly elections, raises questions of transparency. The resumption of hikes immediately after polling has sparked public concern over affordability and governance.
Indian Oil Corporation has assured that there is no nationwide shortage, describing reported fuel outages as localised and temporary, linked to seasonal demand and redistribution of sales patterns.
