Petrol Diesel Hike For Third Time In Weeks As Iran War Pushes Crude Prices Higher | Newshour

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Published 5/23/2026, 6:11:06 PM · Updated 5/23/2026, 7:00:43 PMBy TheBriefWire Editorial Team

Key points· Video

  • Petrol and diesel prices in India have been increased for the third time in less than two weeks, as oil companies face pressure due to the ongoing Iran conflict that has driven Brent crude prices higher.
  • On May 15, fuel prices were hiked by ₹3 per litre, followed by a ₹0.90 per litre increase on May 19, and another ₹0.90 per litre hike today, taking the total increase to around ₹5. Petrol prices have crossed the ₹100 per litre mark in several parts of the country, with some cities nearing ₹110 per litre.
  • In the Capital Region, petrol is now retailing close to the ₹100 mark.
  • The government said OMCs are facing major losses and noted that after 26 days of the war, the total increase stands at ₹4.74 per litre, calling it the first major hike in over four years.
  • The explanation was rejected by the opposition, which accused...

Published May 23, 2026.

Quick Summary

Petrol and diesel prices in India have been increased for the third time in less than two weeks, as oil companies face pressure due to

Why It Matters

This development is important because it may impact public opinion, policy decisions, and future developments related to Petrol Diesel Hike For Third Time In Weeks As Iran War Pushe.

Key Takeaways

  • Petrol and diesel prices in India have been increased for the third time in less than two weeks, as oil companies face pressure due to the ongoing Iran conflict that has driven Brent crude prices higher.
  • On May 15, fuel prices were hiked by ₹3 per litre, followed by a ₹0.90 per litre increase on May 19, and another ₹0.90 per litre hike today, taking the total increase to around ₹5.
  • Petrol prices have crossed the ₹100 per litre mark in several parts of the country, with some cities nearing ₹110 per litre.
  • In the Capital Region, petrol is now retailing close to the ₹100 mark.
  • The government said OMCs are facing major losses and noted that after 26 days of the war, the total increase stands at ₹4.74 per litre, calling it the first major hike in over four years.

Petrol and diesel prices in India have been increased for the third time in less than two weeks, as oil companies face pressure due to the ongoing Iran conflict that has driven Brent crude prices higher. On May 15, fuel prices were hiked by ₹3 per litre, followed by a ₹0.90 per litre increase on May 19, and another ₹0.90 per litre hike today, taking the total increase to around ₹5. Petrol prices have crossed the ₹100 per litre mark in several parts of the country, with some cities nearing ₹110 per litre.

In the Capital Region, petrol is now retailing close to the ₹100 mark. The government said OMCs are facing major losses and noted that after 26 days of the war, the total increase stands at ₹4.74 per litre, calling it the first major hike in over four years. The explanation was rejected by the opposition, which accused the government of making the middle class and the poor suffer. Watch the Newshour Special with Heena Gambhir with question-driven analysis. Times Now - Times Now News channel examines news with in-depth analysis.

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Subscribe to our other network channels Times Now Navbharat Zoom Mirror Now ET Now TN+ Chapters 0:00 Petrol and Diesel Price Hikes in India: Latest Updates 0:59 Government's Defense of Fuel Price Increases 1:49 Opposition's Response: Impact on Middle Class 2:16 Expert Analysis: Understanding the Economic Context 5:02 Comparative Fuel Price Analysis: India vs Global Trends 7:04 Consumer Impact: Rising Costs and Economic Challenges 10:47 Final Thoughts: Political Accountability and Future Outlook

📌 Source: Times Now

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