Petrol, diesel prices hiked for third time in 10 days amid global oil pressure
New Delhi, May 23 : Petrol and diesel prices were increased once again across India on Saturday, marking the third revision in retail fuel rates in just 10 days.
Petrol became costlier by Rs 0.87 per litre, while diesel prices were raised by Rs 0.91 per litre by state-owned oil marketing companies. The latest hike comes amid sustained pressure from rising global crude oil prices and ongoing geopolitical tensions in West Asia, which continue to impact international energy markets.
In the national Capital, Delhi, petrol prices increased from Rs 98.64 to Rs 99.51 per litre, while diesel rose from Rs 91.58 to Rs 92.49 per litre, according to PTI. The uniform revision reflects a broader nationwide adjustment in fuel prices, affecting multiple cities nationwide.
In Kolkata, petrol is now priced at Rs 110.64 per litre, while diesel has reached Rs 97.02 per litre after the latest hike.
In Mumbai, petrol has climbed to Rs 108.49 per litre and diesel to Rs 95.02 per litre.
The repeated increases have added to concerns among daily commuters, transport operators and businesses, who are already dealing with rising operational costs.
The price revision comes a day after the Ministry of Petroleum and Natural Gas reassured the public that India has adequate petrol and diesel supplies.
In its statement, the ministry said that fuel availability across the country remains stable and urged citizens to avoid panic buying or unnecessary crowding at fuel stations.
It added that any temporary pressure at select retail outlets is being addressed through continuous monitoring and coordinated distribution efforts by oil marketing companies.
The ministry further emphasised that responsible consumption and public cooperation are essential to ensure smooth fuel availability during the ongoing period of high demand and global uncertainty. Authorities also reiterated that supply systems are being closely monitored to prevent any disruption in distribution.
Earlier, on May 16, fuel prices had witnessed a sharper upward revision, with petrol and diesel rates rising by around Rs 3 per litre in several cities following adjustments by state-run oil companies.
Experts have warned that continued increases in fuel prices may have a cascading effect on the economy, potentially raising transportation and logistics costs, which could further lead to inflationary pressure on essential goods and services.
Government officials, however, maintain that the revisions are necessary to offset rising import costs and ensure stability in fuel supplies amid volatile global crude oil markets and ongoing geopolitical tensions.