Bulk diesel, premium petrol prices increased

STate-run oil color marketing companies (OMCs) raised the terms of industrial rudolf christian karl diesel and insurance premium petrol on fri as surging global crude prices — driven by the West Asia conflict — piled pressure on retail margins.While pump prices steady for ordinary petrol and diesel consumers have been kept unchanged, Friday’s was the first substantial rise in retail fuel prices of any category since March 2024.Industrial diesel, sold in bulk directly to commercial establishments, was hiked by ₹21.92 a litre — a 25% increase — taking the price in Delhi from ₹87.67 to ₹109.59 per litre. Premium petrol was raised by ₹2 a litre, from ₹99.89 to ₹101.89 in the capital.Premium petrol usually has higher octane number and some additives when compared to normal petrol and diesel, which account for the overwhelming bulk of daily sales, The latter fuels remain largely unchanged at ₹94.77 and ₹87.67 per litre respectively in Delhi — frozen since March 2024.“The hike is done because of surging international crude oil prices,” said an executive at one of the oil companies, requesting anonymity.Sujata Sharma, joint secretary in the Ministry of Petroleum, confirmed the development at an inter-ministerial briefing on Friday, noting that auto fuels are deregulated products whose prices are set by the OMCs. “There is no increase in the price of normal petrol. There is some increase in a premium category, and that is hardly 2, 3 or 4% of the entire petrol which is sold every day. There has been no increase in petrol price for the common person,” she said.While petrol and diesel are formally deregulated, the government exercises tacit control over pump prices through its three state-run OMCs, which together control about 90% of the country’s fuel retail business — effectively shielding consumers from international oil price volatility at the cost of OMC margins.Also Read | Petrol diesel price today: Check state-wise March 20 petrol and diesel priceThose margins are now under severe stress. At least four petrol pump dealers, speaking on condition of anonymity, confirmed the premium petrol price increase and said OMCs had withdrawn all forms of credit to dealers. “OMCs have already withdrawn all kinds of credits to us. Now it is a cash and carry situation. Pay instantly to lift the fuels. But, one good thing, there is no shortage of petrol and diesel,” said a Delhi-based dealer.To be sure, the three OMCs raked in ₹57,810.37 crores in net profits during the nine month period of 2025-26, posting over 192% annualised jump when international crude oil prices slumped lower than what they were when retain prices were last adjusted.Benchmark Brent crude surged to $119.5 per barrel on March 9 — a 45-month high and a 64% jump from $72.87 per barrel before US-Israeli strikes on Iran began 10 days ago. After retreating from that peak, prices remained elevated above $100 per barrel before climbing again to $108.65 on Thursday, after Iran struck Qatar’s Ras Laffan industrial city energy infrastructure in retaliation for an Israeli strike on Iran’s South Pars gas facility.Brent was trading at $108.06 on Friday evening, a marginal 0.5% dip from Thursday’s close.India, which imports about 88% of the crude oil and 50% of the natural gas it consumes, has so far maintained supplies through diversification. “Refineries are operating at peak capacity with adequate crude and LPG stocks, ensuring stable supply and normal deliveries despite high booking levels,” Sharma said. Nearly 93% of LPG bookings are online with authenticated delivery, and over 7,500 consumers have shifted to piped natural gas. Last week, 11,300 tonnes of commercial LPG were supplied across 18 states and union territories, with priority given to hospitals and educational institutions.LPG supply, however, remains a pressure point. Commercial LPG allocations are being curtailed to protect domestic household supply. Sharma acknowledged the strain, saying “the situation is a matter of concern and is being monitored, but there has been no reduction in domestic supplies.”About 47% of India’s LPG imports come from Qatar — whose energy infrastructure at Ras Laffan was struck Thursday — making supply diversification an urgent priority. India imports crude from 40 countries and LNG from the United States, Russia, Australia and Norway, in addition to West Asia. Efforts to diversify LPG sourcing are under way, Sharma said.