High-octane petrol prices hiked by up to ₹2.35/litre; regular fuel rates unchanged: Report

State-run oil marketing companies have increased the price of high-octane petrol by up to ₹2.35 per litre with effect from March 20.

The price of BPCL’s Speed, HPCL’s Power, and Indian Oil’s XP95 has been increased in the range of ₹2.09 to ₹2.35 per litre, according to multiple media reports.

There is, however, no revision in the price of normal petrol, which continues to be sold at existing rates.

Premium 95-Octane petrol price in Delhi has been increased from ₹99.89 per litre to Rs ₹101.89 in the national capital, PTI reported, citing industry sources.

Alongside, bulk or industrial diesel prices were hiked from ₹87.67 per litre to ₹109.59 in Delhi.

A litre of normal petrol in Delhi continues to cost ₹94.77 while the same grade diesel comes for ₹87.67 a litre.

"There has been no increase in prices of normal petrol, just some hike in premium category, which [accounts for] just 2-4% of petrol sold. Common public will not be affected," Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, said at an inter-ministerial briefing on Friday.

Sharma also highlighted that petrol and diesel prices have been deregulated and are not under the government's control.

The development comes amid heightened concerns over global oil supply following the effective closure of the Strait of Hormuz, one of the world's most important oil and gas chokepoints.

The Ministry of Petroleum and Natural Gas on Thursday said all refineries in the country are operating at high capacity and have adequate crude inventories.

It further stated that there have been no reports of fuel shortages at retail outlets, with supplies of petrol and diesel continuing smoothly across the country.

The government also urged citizens to avoid panic buying, stressing that adequate fuel stocks are available and supply lines remain stable.