Premium Petrol Price Surge Hits India

On 20 March 2026, Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL), and Indian Oil (IOCL), three of India's largest oil firms, increased the price of their premium petrol types by up to ₹2.35 per litre. The US-Israel-Iran fight has put a strain on the world's energy supply, but regular gas prices have not changed.

Price Hike Details

Power from HPCL, Speed from BPCL, and XP95 (or XP90) premium fuels from IOCL all experienced instant price rises of ₹2.09 to ₹2.35 per litre.

For instance, premium 95-octane gasoline in Delhi increased from roughly ₹99.87 to ₹99.89 to ₹101.89 per litre.

Most drivers won't immediately feel the pain because these premium fuels, which are meant to improve engine performance, only account for 3–4% of overall sales.

Fuel Crisis Background

The increase is linked to the US-Israel-Iran war's disruptions, which closed the Strait of Hormuz, an essential means for 20% of the world's oil and a large portion of India's imports.

Over 85% of India's crude oil comes from the Gulf, and the conflict severely affected LPG and other fuels first, driving up worldwide prices.

In order to reduce shortages, India is purchasing extra oil from the US, Russia, and Africa while refineries are operating at maximum capacity.

Market Reactions

Following the announcement, shares of IOCL, HPCL, and BPCL increased by 3.5% as investors viewed it as a rapid solution to balance growing expenses.

In order to offset increased worldwide oil costs, industrial diesel prices also increased dramatically, reaching ₹22 a litre in bulk.

Due to stable stockpiles for almost 74 days, consumers have not yet seen any adjustments to regular gasoline or diesel.