3rd Hike In 10 Days! Petrol Prices Raised By Rs 1.46, Diesel Prices Up By Rs 1.45; Check Fuel Prices City-Wise

Fuel prices are hiked for the third time in just 10 days. On May 23, petrol price was raised by 87 paise per litre in Delhi, but its biggest hike was Rs 1.46 in cities like Patna. Diesel prices were also hiked by up to Rs 1.45 per litre. Following this, petrol is now nearing Rs 113 per litre in some cities, while diesel has crossed the Rs 102 mark. Fuel is expensive in cities like Patna, Thiruvananthapuram and Hyderabad.

Petrol Prices In India:

In major metro cities like New Delhi, petrol is now available for Rs 99.51 per litre, very close to Rs 100 mark. The latest hike in the national capital stood at Rs 0.87.

In the financial hub, Mumbai, petrol is hiked by Rs 0.86 to Rs 108.45 per litre. But petrol is up by Rs 0.98 to Rs 110.64 per litre in Kolkata, and is increased by Rs 0.82 to Rs 105.33 per litre in Chennai.

The biggest hike was in Patna by Rs 1.46 to Rs 111 per litre, but petrol is most expensive in Hyderabad at Rs 112.81 per litre which was increased by Rs 0.97. The other city where petrol breached above Rs 112 mark is Thiruvananthapuram at Rs 112.64 per litre which was raised by Rs 0.93 per litre.

Cities like Jaipur, Bhubaneswar and Gurgaon recorded more than Rs 1 increase in the petrol prices on May 23.

Earlier, petrol prices were hiked by up to Rs 1.71 per litre on May 19. This was after petrol prices increased by over Rs 3 per litre on May 15. The Indian oil marketing companies hiked both petrol and diesel prices after nearly a four-year gap. They did not revise fuel prices since April 2022 even when the Russia-Ukraine war pushed crude oil prices to $150 per barrel mark.

However, the shutdown of the Strait of Hormuz for the third month straight, along with the dual blockade, is expected to have a more severe and long-term impact on global energy. Hence, countries, including India are pushed to hike their fuel prices.

City	Price	Price Change
New Delhi	₹99.51	+0.87
Kolkata	₹110.64	+0.98
Mumbai	₹108.45	+0.86
Chennai	₹105.33	+0.82
Gurgaon	₹100.37	+1.07
Noida	₹99.70	+0.86
Bangalore	₹108.09	+0.95
Bhubaneswar	₹106.18	+1.00
Chandigarh	₹98.97	+0.87
Hyderabad	₹112.81	+0.97
Jaipur	₹109.84	+1.03
Lucknow	₹99.31	+0.86
Patna	₹111.00	+1.46
Thiruvananthapuram	₹112.64	+0.93

Diesel Prices In India:

Just like petrol, diesel prices are also increased with effect from May 23. The highest hike was in Patna by Rs 1.45 to Rs 97.03 per litre, while diesel was increased by over Rs 1 per litre in cities like Jaipur, Bhubaneswar and Gurgaon.

In Delhi, diesel price is increased by Rs 0.91 per litre to Rs 92.49, while diesel is up by Rs 0.94 in Mumbai to Rs 95.02 per litre. Furthermore, in Kolkata, diesel is now further expensive by Rs 0.95 to Rs 97.02 per litre and in Chennai, the price is up by Rs 0.87 to Rs 97 per litre.

But diesel is most expensive in Hyderabad to Rs 100.94 per litre which was increased by Rs 0.99. In Thiruvananthapuram, diesel price has breached Rs 101 mark and is now being sold at Rs 101.55 per litre, up by Rs 0.95.

City	Price	Price Change
New Delhi	₹92.49	+0.91
Kolkata	₹97.02	+0.95
Mumbai	₹95.02	+0.94
Chennai	₹97.00	+0.87
Gurgaon	₹92.93	+1.12
Noida	₹93.03	+0.92
Bangalore	₹95.99	+0.95
Bhubaneswar	₹97.80	+1.04
Chandigarh	₹86.94	+0.85
Hyderabad	₹100.94	+0.99
Jaipur	₹95.05	+1.00
Lucknow	₹92.70	+0.92
Patna	₹97.03	+1.45
Thiruvananthapuram	₹101.55	+0.95

In just 10 days, diesel prices have been increased by Rs 5-6 per litre. The previous hike ranged from Rs 0.86 to Rs 1.22 on May 19. Prior to this, diesel was hiked by more than Rs 3 per litre across cities on May 15.

As per Samir Somaiya, Chairman & Managing Director, Godavari Biorefineries Limited (GBL), the recent hike in fuel prices underscores that energy self-reliance is now more critical than ever, highlighting why we must accelerate our shift away from global volatility.

He believes that this moment really emphasizes how much India has already built to address this challenge.

"At current prices, ethanol is already more economical per kilometre than petrol, and it plays a critical role in putting money directly into the rural economy, into the hands of millions of farmers who grow the feedstock that powers it. India has the strength of the sun, the soil, and the small farmer, and that is a more powerful energy asset than any oil field. We have the sugarcane, the biomass, and the refining capability to keep scaling this confidently," said Somaiya.

Lastly, he said, global crude will always be volatile, but India is in a stronger position today than it has ever been to absorb that volatility, protect consumer consumption, and reduce the broader economic impact over time. That is a genuine achievement, and one that puts us on the right side of the energy transition.

However, crude oil prices remain elevated and the biggest dagger to global economy. A prolonged closure of the Strait of Hormuz poses the single greatest threat to global energy markets in decades, according to a new Horizons report from Wood Mackenzie.

"The Strait of Hormuz is the most critical chokepoint in global energy markets, and a prolonged closure would become far more than an energy crisis," said Peter Martin, head of economics at Wood Mackenzie. "The longer disruption persists, the greater the impact on energy prices, industrial activity, trade flows and global economic growth."

Wood Mackenzie believes Brent Crude could approach $200 mark by end of 2026, and diesel and jet fuel prices could rise towards $300/bbl in major refining centres by year end.