Hindustan Petroleum Corporation , 20 Mar : State-run oil marketing firms, including Indian Oil Corporation Limited and Hindustan Petroleum Corporation Limited, have increased premium petrol prices by over Rs 2 per litre from March 20. The revision reflects mounting pressure from global crude oil trends.
Branded fuel variants such as Power petrol and XP95 now cost between Rs 2.09 and Rs 2.35 more per litre.
Prices have risen from approximately Rs 111.68 to around Rs 113.77 per litre. However, regular petrol and diesel prices remain unchanged, offering temporary relief to consumers.
The adjustment follows heightened volatility in international oil markets. Brent Crude surged above $111 per barrel, while West Texas Intermediate approached $99.57 per barrel.
The spike came after attacks on critical energy infrastructure in West Asia.
Reports indicate that Israel struck Iran’s South Pars gas field, the world’s largest, prompting retaliatory action targeting Qatar’s Ras Laffan industrial hub. These developments have intensified concerns over global energy security and supply disruptions.
India, which imports nearly 90 per cent of its crude oil requirements, remains highly sensitive to such fluctuations.
The rise in premium petrol prices signals the early impact of elevated crude costs.
Industry analysts caution that prolonged geopolitical tensions may prompt broader fuel price adjustments.
While standard fuel rates remain stable for now, continued pressure in global markets could prompt further adjustments in the coming weeks.
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