Petrol and Diesel Prices Rise Again Amid Middle East Tensions, Check Latest Rates

Petrol became costlier by 87 paise per litre, while diesel prices increased by 91 paise per litre. This is the third increase this month.

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Nishchay
Last Updated : Saturday, 23 May 2026
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New Delhi: On Saturday, oil companies once again got a shock. Petrol became costlier by 87 paise per litre, while diesel prices increased by 91 paise per litre. This is the third increase this month. Earlier on May 19, there was an increase of 90 paise and on May 16, the government had directly increased the price by Rs 3 per liter. That means petrol and diesel have become costlier by about Rs 5 in May itself.

What is the rate now in your city?

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After May 19, 2026, the new rate in all four metros will be like this:

Petrol

  • Delhi: Rs 99.51 (0.87)
  • Kolkata: Rs 110.64 (0.94)
  • Mumbai: Rs 108.49 (0.90)
  • Chennai: Rs 105.31 (0.82)

Diesel

  • Delhi: Rs 92.49 (0.91)
  • Kolkata: Rs 97.02 (0.95)
  • Mumbai: Rs 95.02 (0.94)
  • Chennai: Rs 96.98 (0.87) Petrol in Delhi is now about to touch Rs 100. In Mumbai it is already beyond 108.

Why are the prices continuously increasing?

The real reason is the international market. Tension regarding Iran has increased in the Middle East. America-Iran peace talks are also stuck. Due to this, the price of crude oil is on fire. On Friday, Brent crude crossed Rs 104 per barrel. WTI crude is also hovering around Rs 97. In between, crude had reached Rs 111.

What are the oil companies saying?

Government oil companies were facing losses for several months. According to the government, OMCs were incurring a loss of around Rs 1000 crore every month because the prices in India were not increased even after the increase in international rates. Now when crude went up very high, the companies gradually started passing the burden to the public.

What does the government say?

On May 12, Petroleum Minister Hardeep Singh Puri had said that despite worldwide supply problems and crude becoming expensive, India did not allow the supply of petrol, diesel and LPG to stop. He claimed that fuel prices will remain almost stable from 2022. This happened because of strong policy and supply management.

What will happen next?

Experts believe that if the issue with Iran worsens and crude crosses Rs 110, then further increase in petrol and diesel prices may be seen. At present, the burden on the common man's pocket is certain to increase. Driving may become more expensive in the coming days.

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