Prices of premium petrol variants have been increased by around Rs 2–2.3 per litre, according to media reports, while regular petrol and diesel rates remain unchanged, according to multiple media reports.
The hike applies to high-octane fuels such as Indian Oil’s XP95 and Hindustan Petroleum’s Power petrol, based on dealer inputs and reports from select cities.
The revised prices reportedly came into effect from March 20.
Dealers quoted in the reports said the increase is in the range of Rs 2 to Rs 2.3 per litre, with some locations reporting a hike of about Rs 2.09 per litre for premium petrol variants.
These fuels are marketed as higher-performance alternatives and are typically used in vehicles that require better engine efficiency and smoother performance.
There has been no change in the prices of regular petrol and diesel, which continue to remain stable across major cities.
Fuel rates for standard petrol have been largely unchanged for a prolonged period, even as global crude oil prices have remained volatile.
The increase in premium fuel prices is being linked to rising global crude oil prices and supply concerns amid escalating tensions in West Asia.
India imports a large share of its crude oil requirements, and higher global prices, along with currency movements, tend to impact domestic fuel costs.
Market participants said the move appears to be a selective price adjustment by oil marketing companies, allowing them to pass on part of the cost pressures without revising widely consumed fuel prices.
LIMITED IMPACT
Since the hike is restricted to premium petrol variants, the impact on the broader public is expected to be limited.
However, consumers using high-octane fuels such as XP95 and Power petrol will see a marginal increase in their fuel expenses.