Premium Petrol Prices Hiked, Normal Petrol Rate Unchanged

The crisis emerged due to the West Asia conflict involving Iran and Israel has started to take its toll on energy resources in certain parts of the world. While India has remained largely elusive to this conflict, it was only a matter of time before the war’s ripples reached Indian shores.

According to ANI, oil marketing companies (OMCs) have decided to hike prices of premium fuel, however, rates for normal fuel remained unchanged. The revised rates came into effect on 20 March 2026. Prices of Bharat Petroleum’s Speed, Hindustan Petroleum’s Power, and Indian Oil XP95 have been increased by ₹2.09 to ₹2.35 per litre.

Earlier in the day, prices for crude oil dropped to $105 per barrel after major European countries and Japan expressed willingness to join efforts to ensure safe passage for ships through the strategically important Strait of Hormuz. The United States also announced measures to increase oil supply. These developments followed a surge in prices past the $110 mark, triggered by Iranian strikes on energy infrastructure across several Gulf nations.

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A few hours ago, Hindustan Petroleum Corporation Limited, through its X account clarified that there is no disruption in crude oil supply. The tweet further added stating, “Additional cargoes are already on the way and will further strengthen India's supply position in the coming days. Avoid rumours. Trust official updates.”

Premium petrol, also known as high octane fuel, offers better performance and fuel efficiency. Hence, they are mostly used in high-performance, luxury, and sports cars. Such fuel is designed to resist engine knocking in high-compression engines, allowing smoother and more efficient combustion.