Prices of premium grade petrol hiked by ₹2, normal petrol rates remain same

Premium petrol prices in India have been increased by up to ₹2.35 per litre with effect from March 20, as disruptions in global energy supplies triggered by the escalating Iran conflict begin to impact domestic fuel markets. The hike applies to high-octane fuel variants, while prices of regular petrol and diesel remain unchanged for now.

The increase affects premium fuel categories sold by major oil marketing companies, including BPCL’s Speed, HPCL’s Power, and IOCL’s XP95, with revisions ranging between ₹2.09 and ₹2.35 per litre. These fuels, used by a smaller segment of consumers, account for only a limited share of overall petrol consumption in the country.

Officials clarified that petrol and diesel prices in India are deregulated and determined by oil marketing companies based on global market conditions. At present, the impact has been restricted to premium petrol, with no immediate change in regular fuel rates, providing temporary relief to the broader public.

The price revision comes amid sharp volatility in global energy markets following military escalation in West Asia. Attacks on key energy infrastructure and heightened tensions have disrupted supply chains, particularly affecting crude oil and liquefied natural gas flows through critical routes such as the Strait of Hormuz.

Global benchmark crude prices surged significantly in recent days before showing some correction, reflecting uncertainty in supply. With continued instability in the region, concerns remain over further fuel price adjustments if global energy markets remain under sustained pressure.