Premium petrol prices have been increased by Rs 2 to Rs 2.3 per litre by oil marketing companies, according to a report by CNBC-Awaaz, with the revision taking effect from March 20, 2026.
The hike applies to branded fuel variants such as HPCL’s Power petrol and IOCL’s XP95, media reports said citing dealer sources. These premium fuels are typically marketed for improved engine performance and enhanced fuel efficiency.
The price adjustment comes amid ongoing geopolitical tensions in West Asia, which have influenced global fuel markets and input costs.
Prices of regular petrol, however, have not been revised and continue to remain unchanged.
In Delhi, premium petrol now costs Rs 101.89 per litre, up from Rs 99.87 earlier. The price of normal petrol continues at existing levels. The report stated that these are Delhi-specific rates, with prices in other cities varying depending on local taxes and prevailing fuel costs.
The revision comes amid elevated crude oil prices and rising input costs linked to ongoing tensions in West Asia. The increase is expected to impact consumers using high-octane fuels, which are typically preferred for improved engine performance and efficiency.
The reason for the hike has not been officially disclosed.
India’s crude import costs have surged sharply in recent days. The average price of the Indian crude basket rose to $146.09 per barrel on March 17, up over 111 per cent from February levels, amid supply concerns related to the Strait of Hormuz.
According to analysts, current crude prices are above sustainable levels for oil marketing companies. A report by Elara Capital noted that crude above $110 per barrel could significantly compress margins, with petrol and diesel margins potentially falling by more than Rs 6 per litre, while LPG under-recoveries could widen materially.
Despite rising cost pressures, retail prices of regular fuels have largely remained unchanged, with oil marketing companies absorbing the impact so far.
Market reaction in oil marketing company stocks was mixed. Indian Oil Corporation settled 1.58 per cent higher, Bharat Petroleum Corporation inched up 0.70 per cent, and Hindustan Petroleum Corporation advanced close to 4 per cent
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