As the Middle East conflict continues to boil and oil continues to soar, consumers are growing concerned about the cost of petrol and diesel. State-run oil marketing companies have raised prices of premium petrol variants by more than Rs 2 per litre, while keeping retail rates of regular petrol and diesel unchanged. The hike affects high-performance fuels such as BPCL’s Speed, HPCL’s Power and IOCL’s XP95, with increases ranging between Rs 2.09 and Rs 2.35 per litre. Despite the revision in these premium offerings, there has been no change in the price of regular petrol, according to ANI.At the same time, industrial consumers are facing a steep rise in diesel costs. The price of bulk diesel was increased by around Rs 22 per litre on Friday, mirroring the surge in global crude oil prices amid the ongoing Middle East conflict. In the national capital, the price of bulk diesel has been revised upwards from Rs 87.67 per litre to Rs 109.59 per litre.
In contrast, retail fuel prices remain steady, with normal diesel still priced at Rs 87.67 per litre and petrol at Rs 94.77 per litre. At a media briefing, Sujata Sharma, joint secretary, ministry of petroleum and natural gas, assured that there is no increase in prices of normal petrol and diesel.Here’s how much petrol and diesel cost in your city today:
The divergence between stable retail fuel prices and rising industrial fuel costs comes as global oil markets remain volatile. Crude prices climbed to $119 per barrel on Thursday amid the intensifying Iran war, before easing to around $108 per barrel.The ongoing Iran conflict has significantly disrupted global energy dynamics, particularly around the Strait of Hormuz, a key transit route for nearly 20% of global energy supplies. Heightened attacks on energy infrastructure by both sides, Iran and Israel-US, along with concerns over shipping disruptions, have pushed crude prices above $100 per barrel, with peaks nearing $120.India’s dependence on imported crude makes it particularly vulnerable to such disruptions. The country sources about 85–90% of its crude oil from overseas, with roughly 40–50% passing through the Strait of Hormuz. Any disturbance in this route raises freight and insurance costs, increases the overall import bill and heightens the risk of supply constraints.Analysts caution that even a $10 increase in crude oil prices can significantly expand India’s import bill and fuel inflationary pressures. The effects are already visible, with pressure on the rupee, foreign investor outflows, and growing concerns over rising fuel and LPG costs.