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In what could beryllium the archetypal motion of cracks owed to the fiscal accent brought connected by skyrocketing planetary lipid prices, Indian oil-marketing companies connected Friday (March 20, 2026) accrued the terms of the premium variant of petrol and concern diesel by astir ₹2-3 and ₹22 per litre, respectively.
The government, however, assured that this is constricted lone to the premium variants and that the prices of the mean grades of petrol and diesel stay unchanged.
Iran-Israel warfare updates connected March 20, 2026
In a societal media station connected Friday (March 20, 2026) evening, State-owned IndianOil confirmed the terms of its premium petrol XP-95 which accrued by ₹2 for each litre from ₹99.87 to ₹101.89. Hindustan Petroleum besides announced a akin increase.
“IndianOil has ensured nary summation successful regular automotive substance prices successful India, adjacent amid rising planetary costs,” the station said. “A constricted revision applies lone to premium petrol XP-95, with minimal interaction connected wide consumption.”
The refiner said that the premium variant of petrol accounts for astir 5% of the wide petrol sales. Other than the car fuel, the terms of concern diesel was revised upwards from ₹87.67 to ₹109.59 per litre.
The hike successful the terms of premium petrol and concern diesel contrasts with the OMCs’ actions erstwhile lipid prices were low. A erstwhile investigation by The Hindu recovered that the OMCs did not little the terms of immoderate signifier of petrol oregon diesel implicit the past two-and-a-half years, adjacent erstwhile lipid prices fell to an mean of $64 a barrel.
As of Friday (March 20, 2026) evening, Brent crude futures were trading astatine $108.1 for each barrel, continuing an upward trajectory arsenic tensions proceed to equine successful West Asia. Further, according to information from the Petroleum and Planning Analysis Cell, India’s crude lipid handbasket – the mean terms astatine which India imports lipid – was averaging $117.09 for each tube successful the existent month.
Earlier successful the day, addressing queries astir the summation successful petrol prices, Sujata Sharma, Joint Secretary astatine the Ministry of Petroleum and Natural Gas, said the hike would not interaction the communal man.
“That is [the premium variant] hardly represents 2-4% of the petrol which is sold each time successful the country,” she said. “It is not that terms of petrol has been accrued [affecting] the communal man.”
The summation successful the terms of premium car substance besides brought barbs from the Opposition. “While radical are already troubled by the state shortage, present they volition besides beryllium made to wage connected petrol,” the Indian National Congress said successful a societal media post.
(With inputs from Sandeep Phukan)
