Petrol crosses Rs 99.50 in Delhi, diesel nears Rs 93; total hike in 10 days nearly Rs 5 per litre; CNG up by Rs 1 per kg; Iran war fuels global oil volatility

The pumps are burning holes in wallets again.

Petrol, diesel and CNG prices have been hiked for the third time in just 10 days. As a result, fuel costs have jumped by nearly Rs 5 per litre since mid-May. In fact, the latest revision on May 23 adds another sharp pinch for drivers across India.

The government says supply is stable. But then, global crude prices are on fire due to the Iran war and shipping chaos in the Strait of Hormuz. Consequently, oil marketing companies have no choice but to pass the pain to consumers.

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New Petrol Prices Across Major Cities (May 23, 2026)

Here is the full rate card after the latest hike. In fact, every major city saw a jump of 82 paise to 95 paise per litre.

City	New Price (Rs/litre)	Old Price (Rs/litre)	Hike (Rs)
Delhi	99.51	98.64	0.87
Mumbai	108.49	107.59	0.90
Bengaluru	108.09	107.16	0.93
Chennai	105.31	104.49	0.82
Kolkata	110.64	109.70	0.94

Kolkata remains the costliest city for petrol. In fact, at Rs 110.64, it is over Rs 11 more expensive than Delhi. Meanwhile, Chennai saw the smallest hike this round at just 82 paise.

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New Diesel Prices Across Major Cities (May 23, 2026)

Diesel did not escape either. In fact, the fuel used by trucks, buses and farmers saw hikes of 87 paise to 95 paise per litre.

City	New Price (Rs/litre)	Old Price (Rs/litre)	Hike (Rs)
Delhi	92.49	91.58	0.91
Mumbai	95.02	94.08	0.94
Bengaluru	95.99	95.04	0.95
Chennai	96.98	96.11	0.87
Kolkata	97.02	96.07	0.95

Kolkata tops diesel prices too at Rs 97.02. Moreover, Bengaluru and Chennai are close behind at Rs 95.99 and Rs 96.98 respectively. Therefore, South and East India are feeling the diesel burn more than the North.

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CNG Prices Also Hiked: Check Rates in Your City

CNG users are not safe either. In fact, Indraprastha Gas Limited (IGL) raised CNG prices by Rs 1 per kg in Delhi and nearby cities.

City	New Price (Rs/kg)	Old Price (Rs/kg)	Hike (Rs)
Delhi	81.09	80.09	1.00
Gurugram	86.12	85.12	1.00
Noida	89.70	88.70	1.00
Ghaziabad	89.70	88.70	1.00
Kanpur	92.42	91.42	1.00
Ajmer	90.44	89.44	1.00
Mumbai	84.00	84.00	No change

Mumbai CNG prices stayed flat at Rs 84/kg after the last hike on May 15. However, Delhi and NCR cities saw fresh increases. Consequently, CNG car owners in the capital region are paying Rs 2 more per kg than they did 10 days ago.

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Why Are Prices Rising? The Iran War Connection

The hikes are not random. In fact, they trace back to a crisis thousands of miles away.

Global oil prices have stayed volatile for weeks. Moreover, the Iran war has made things worse. Consequently, shipping through the Strait of Hormuz — the chokepoint for one-fifth of world oil — faces major uncertainty. Therefore, crude supply fears are pushing prices up.

India imports over 85% of its oil. As a result, any global price jump hits Indian pumps within days. In addition, the rupee has weakened against the dollar. Consequently, buying crude costs more in rupee terms even when dollar prices stay flat.

The ministry says India has adequate fuel stocks. However, the statement also admits to “temporary pressure at some retail outlets.” Therefore, while supply exists, getting it to every pump smoothly remains a challenge.

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10-Day Damage: How Much More You Are Paying

Let us look at the total hit since May 15. In fact, three hikes in 10 days add up fast.

For a typical car owner driving 1,000 km per month, the petrol hike means Rs 200-250 extra per month. But then, diesel users — including truck operators, taxi drivers and farmers — face a bigger pinch. Consequently, transport costs and food prices may creep up in coming weeks.

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What Should You Do Now?

You cannot control global oil prices. However, you can take steps to soften the blow.

1. First, check fuel apps: Use apps like Petrol Diesel Price India or Fuel@IOC to find the cheapest pump near you. Prices can vary by 50 paise within the same city
2. Next, drive smarter: Maintain steady speed, avoid sudden braking, and keep tyres properly inflated. These habits can improve mileage by 10-15%
3. Then, consider carpooling: For office commutes, sharing rides splits fuel costs
4. After that, explore CNG or EV options: If buying a new vehicle, CNG still costs less per km than petrol. Electric two-wheelers are even cheaper
5. Finally, budget for more: Add Rs 500-1,000 to your monthly fuel budget until global prices cool down

In addition, watch for government relief. In fact, some states may cut VAT on fuel if prices stay high. Therefore, keep an eye on state budget announcements.

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The Bottom Line

Three things are clear. First: fuel prices are on a rising streak with no pause in sight. Second: global tensions — not local taxes — are driving most of this hike. Third: your monthly budget for fuel needs a bump.

As a result, Delhi petrol is just 49 paise shy of Rs 100. Mumbai and Kolkata have already crossed that mark. In the meantime, if the Iran war escalates or the Strait of Hormuz faces blockades, prices could jump even higher.

We will keep tracking fuel price updates as oil marketing companies announce revisions and global crude markets react to Middle East developments.

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