Daijiworld Media Network - New Delhi

New Delhi, Mar 20: Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL) have increased premium petrol prices by Rs 2 per litre, pushing IOCL’s XP95 to Rs 101.80 per litre.

The hike applies specifically to premium petrol variants, typically used in high-performance vehicles, while regular petrol prices remain unchanged, offering some relief to the broader consumer base.

In addition to fuel retail prices, industrial fuel rates have also witnessed a significant increase, which is expected to raise operating costs for sectors dependent on heavy machinery and logistics.

The revision comes against the backdrop of global supply disruptions triggered by the ongoing West Asia conflict. International benchmark Brent crude prices have surged sharply—by nearly 50 percent this month—driving up fuel costs.

Currency pressures have also played a role, with the Indian rupee weakening to around Rs 93 against the US dollar, further impacting import costs for crude oil.

Industry observers say the combined effect of rising crude prices and currency fluctuations could continue to influence fuel pricing and inflation trends in the coming weeks.