Despite the increase in global crude oil prices, the Indian Oil Corporation (IOC) has maintained the prices of conventional petrol and diesel in the nation’s capital at the same levels as its premium fuel options, which have been raised.
An increase from ₹149 to ₹160 per litre has been made to the price of XP100 petrol, a high-octane fuel utilised in high-end and performance automobiles. Xtra Green diesel has also seen a price increase, going from ₹91.49 to ₹92.99 per litre.
Standard petrol and diesel, on the other hand, have maintained their retail pricing in Delhi at ₹94.72 and ₹87.62 per litre, respectively. Mumbai is just one of several major cities where prices have stayed the same.
Crude oil prices have risen as a result of the West Asia conflict, which has increased market volatility worldwide and prompted the selective price revision.
Retail fuel prices have been felt by oil marketing businesses, but other petroleum products have witnessed significant price hikes. In response to the dramatic increase in worldwide standards, the cost of commercial LPG has gone up and the price of aviation turbine fuel (ATF) has more than quadrupled.
Despite ongoing uncertainty in global oil markets, especially around vital supply channels like the Strait of Hormuz, OMCs are taking a measured approach to pricing in order to balance consumer effect with cost pressures.
