Premium Petrol Price Up Rs 2, Industrial Diesel Up Rs 22
BPCL, HPCL, and IOCL increase rates for Speed, Power, and XP95; regular petrol prices remain unchanged.
New Delhi: Amid the Gulf war, energy shocks hit India as the price of premium or higher-grade petrol price on Friday was increased by Rs 2 per litre, while the rate of bulk diesel sold to industrial users was hiked by about Rs 22 a litre, reflecting the spike in the international oil prices. However, the price of normal petrol and diesel remains unchanged. But the government denied the price hike, saying that there is no immediate plan to raise the retail fuel prices, while it repeatedly assured the consumers about the availability of fuel in the country.
Normal petrol typically has an octane rating of 91-92 and is suitable for standard engines, offering adequate performance for everyday driving. Premium petrol, on the other hand, has a higher octane rating of 95-98, making it ideal for high-performance or high-compression engines. The revision on petrol and diesel price comes amid ongoing volatility in global energy markets following the West Asia crisis. However, HPCL said it has taken steps to shield retail consumers from broader price hikes.
According to top industry sources, state-run oil-marketing companies (OMCs) have increased the price of their premium-grade power petrol by over Rs 2 per litre, while keeping the prices of regular petrol and diesel unchanged. “The revised rates, effective on Friday, apply to high-performance fuel variants, including BPCL’s Speed, HPCL’s Power and IOCL’s XP95, with prices increasing in the range of Rs 2.09 to Rs 2.35 per litre,” the sources said.
Although the state-run petroleum firms didn’t specify any reason behind the hike, it is, however, learnt that fluctuations in global crude oil prices and changes in logistics costs amid the ongoing Iran-US conflict may have prompted the decision. International oil prices touched $119 per barrel on Thursday on intensifying Iran war, before pulling back to around $108 a barrel.
In Delhi, premium 95-Octane petrol price has been increased from Rs 99.89 per litre to Rs 101.89 in the national capital, while bulk or industrial diesel prices were hiked from Rs 87.67 per litre to Rs 109.59 in Delhi. However, the government has kept on announcing the fact that there is no disruption in crude oil supply and urged people to avoid rumours.
“There is no increase in prices of normal petrol and diesel. Some increase is reported in the premium category which hardly makes up for 2-4 percent of the entire petrol sold in the country, but there is no increase in price for the common man,” said Sujata Sharma, joint secretary, ministry of petroleum and natural gas at her media briefing.
“Pricing decisions are taken by OMCs independently as petrol and diesel pricing was deregulated in 2010 and 2014 respectively. So, they decide the pricing, as they are expected to absorb the current cost pressure for the time being. The government does not regulate petrol and diesel prices and it is closely monitoring global oil markets, but there is no immediate plan to raise retail fuel prices. Till now we have not increased the prices,” she added.
In line with the ministry’s statement, state-owned HPCL said in a post on X that the price of HPCL’s normal petrol remains unchanged. There is no disruption in crude oil supply. Additional cargoes are already on the way and will further strengthen India’s supply position in the coming days. Avoid rumours. Trust official updates,” it said.
