Delhi: Government-owned oil companies delivered yet another major shock to the nation’s citizens this Monday morning. The oil companies have hiked petrol prices by ₹2.61 and diesel prices by ₹2.71. This marks the fourth time in the last 10 days that oil companies have raised the prices of petroleum products.
According to reports, this is the fourth price hike for petroleum products within the span of the last ten days. In the national capital, Delhi, the new price for one liter of petrol has risen to ₹102.12. Meanwhile, diesel prices have climbed to ₹95.20 per liter. These new petrol and diesel rates came into effect today, Monday.
The implementation of these new petrol and diesel prices is expected to drive up inflation further in the coming days. Let us take a look at the new rates across the country’s four major metropolitan cities.
On Monday—the first day of the week—crude oil prices hit a two-week low. The reason attributed to this decline is the anticipated end of the ongoing conflict between the United States and Iran. US President Donald Trump stated that an agreement between the two nations would be reached very soon, bringing an end to the conflict that has persisted for approximately 85 days. The Strait of Hormuz currently remains closed; consequently, it is taking some time for oil supplies to return to normal levels. As for Brent Crude oil, its price has dropped to ₹98.83 per barrel.
Prior to this, the oil companies had also raised petrol and diesel prices on Saturday, May 23, 2026. Petrol prices were hiked by approximately 87 paise per liter, while diesel prices saw an increase of 91 paise per liter. Additionally, the price of CNG was raised by ₹1 per kilogram. On Friday, May 15, 2026, petrol and diesel prices had also been hiked by ₹3 each.
