Prices of premium petrol and bulk diesel supplied to industrial users were hiked on Friday, reflecting a sharp rise in global crude oil rates amid escalating tensions in West Asia.
Industry sources said premium 95-octane petrol in Delhi has been increased by Rs 2 per litre, from Rs 99.89 to Rs 101.89. At the same time, bulk or industrial diesel prices saw a steep increase of around Rs 22 per litre, rising from Rs 87.67 to Rs 109.59 in the national capital.
However, there has been no change in the retail prices of regular petrol and diesel. In Delhi, standard petrol continues to be priced at Rs 94.77 per litre, while diesel remains at Rs 87.67.
The selective price hike comes as international crude oil prices surged, briefly touching $119 per barrel before easing to around $108. The spike has been driven by the ongoing conflict involving Iran, which has heightened concerns over supply disruptions in key shipping routes.
India, which imports nearly 88 per cent of its crude oil requirements, is particularly vulnerable to such global price movements. Much of its oil supplies pass through the Strait of Hormuz, a critical corridor now affected by geopolitical tensions.
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Officials said the government continues to shield consumers from volatility by keeping retail fuel prices unchanged, even as oil marketing companies adjust rates for premium and bulk segments.
“Some increase is reported in the premium category which hardly makes up 2–4 per cent of the total petrol sold. There is no increase in price for the common man,” said Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas.
She reiterated that petrol and diesel prices are deregulated, and decisions are taken independently by oil marketing companies such as Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited.
Retail fuel prices have largely remained unchanged since April 2022, with companies absorbing losses during periods of high crude prices and recovering margins when rates soften. The government indicated there is no immediate plan to revise retail prices, as it seeks to limit inflationary impact on consumers.
While the immediate burden falls on users of high-octane petrol and industrial diesel, officials warned that sustained pressure from elevated crude prices could eventually necessitate broader adjustments in the fuel pricing structure.
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