Premium petrol up by Rs 2 per litre; regular fuel prices remain unchanged

PTC Web Desk: Premium-grade petrol has become costlier by around Rs 2 to Rs 2.3 per litre, while prices of regular petrol and diesel continue to remain unchanged across the country.

The latest increase applies to high-octane fuel variants such as those offered by Indian Oil Corporation and Hindustan Petroleum Corporation Limited. According to inputs from fuel dealers in select cities, the revised rates have come into effect from today.

In several locations, Indian Oil’s XP95 petrol is now retailing at approximately Rs 101.80 per litre. Similarly, premium petrol sold by Hindustan Petroleum Corporation Limited has also witnessed a comparable hike across multiple outlets.

The rise in premium fuel prices comes against the backdrop of a sharp upswing in global crude oil rates. Brent crude has been trading above the $100 per barrel mark, driven by ongoing geopolitical tensions in West Asia and concerns over potential supply disruptions.

Higher crude prices have increased the input costs for major oil marketing firms, including Indian Oil Corporation, Hindustan Petroleum Corporation Limited, and Bharat Petroleum Corporation Limited.

Additionally, the weakening of the Indian rupee against the US dollar has further raised the cost of crude imports, putting extra pressure on fuel pricing. Since India relies heavily on imported oil, currency fluctuations play a key role in determining retail fuel rates.

In this scenario, oil companies appear to have opted for a targeted price increase in premium petrol variants rather than revising rates for regular petrol and diesel, which are more widely consumed.

Despite global volatility, prices of regular petrol and diesel have remained stable in major cities such as Delhi, Mumbai, Bengaluru, Hyderabad and Chennai.

Fuel rates for commonly used variants have been largely unchanged for a prolonged period, mainly due to inflation concerns and policy considerations.

Since premium fuels account for a relatively smaller share of total consumption, companies have some flexibility to adjust their prices without significantly impacting the broader population.

For most vehicle owners, the immediate effect is minimal as regular fuel prices have not been altered. However, consumers using high-octane petrol like XP95 or Power variants will experience a slight increase in fuel expenses.