State-owned oil marketing companies raised petrol and diesel prices in New Delhi on Saturday, May 23, by up to 91 paise per litre — the third hike in less than 10 days — citing a sharp rise in international crude oil costs linked to the ongoing West Asia conflict.
The latest revision follows two earlier increases this month after public-sector fuel retailers resumed passing higher import costs to consumers in a calibrated manner. The first raise on May 15 lifted both petrol and diesel by Rs 3 per litre, the first such move in over four years. A second adjustment on May 19 added roughly 90 paise per litre.
With Saturday’s change, fuel prices have climbed by nearly Rs 5 per litre since May 15. According to the oil companies’ latest revision, petrol in Delhi rose by 87 paise from Rs 98.64 to Rs 99.51 per litre, while diesel increased by 91 paise from Rs 91.58 to Rs 92.49 per litre.
Oil companies and the government have attributed the successive hikes to extraordinary international market conditions — principally the spike in crude oil prices and supply disruptions tied to heightened tensions in West Asia — which have pushed up import bills. The companies described the adjustments as a measured response to these elevated global costs.
The repeated increases prompted sharp political reactions, with Opposition parties accusing the Centre of passing the burden onto ordinary citizens already facing inflationary pressure. The government defended the revisions, reiterating that they reflect global price movements rather than domestic policy choices.
Analysts warn the hikes will feed into higher transportation costs and could add to retail inflation, at a time when prices of essential commodities are already under pressure. Continued volatility in global crude markets amid the West Asia crisis has raised the prospect of further fuel price revisions in the coming weeks if geopolitical tensions persist.
With inputs from agencies.
Original Source: https://assamtribune.com/national/third-consecutive-fuel-price-hike-in-10-days-petrol-diesel-rates-up-nearly-rs-5-1611929
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Publish Date: 2026-05-23 10:52:00
