Petrol in Delhi will now cost 87 paise more at Rs 99.51 a litre, while diesel will be priced 91 paise higher at Rs 92.49 per litre.
Petrol, Diesel Prices on May 23, 2026: In a third hike within 10 days, petrol and diesel prices were on Saturday, May 23, again hiked by nearly a rupee. Petrol in Delhi will now cost 87 paise more at Rs 99.51 a litre, while diesel will be priced 91 paise higher at Rs 92.49 per litre.
With this, oil marketing companies (OMCs) have hiked fuel rates three times in the past few days, aggregating to about a Rs 5 hike. Elevated crude oil prices triggered by the Iran-US war are putting pressure on OMCs, leading to sharp losses every day. India imports 85-90 per cent of its crude oil, making it volatile for geopolitical disruption.
OMCs revise fuel prices daily at 6 AM, aligning them with movements in global crude oil prices and currency exchange rates.
India’s forex reserve is under pressure due to the elevated crude oil prices.
Petrol and diesel prices were increased by Rs 3 across Indian cities on May 15, amid rising global crude oil prices and supply concerns triggered by the ongoing West Asia crisis. Later, on May 19, the fuel prices were hiked by another 90 paise.
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