XP-95 petrol prices edge up as global crude prices rise

Indian Oil Corp Ltd (IOCL) said its latest fuel price revision applies only to premium petrol XP-95, with no increase in regular petrol and diesel despite a sharp rise in global crude oil prices. The company said crude prices climbed from USD 71 to USD 156 per barrel over the past 20 days. It added that the limited revision would have minimal impact on overall domestic consumption.

At an inter-ministerial briefing on Friday, Sujata Sharma, Joint Secretary at the Ministry of Petroleum and Natural Gas, confirmed that oil marketing companies had raised prices of premium petrol while leaving regular fuel rates unchanged. She also said industrial diesel prices have increased by 25 per cent, from Rs 87.67 per litre to Rs 109.59 per litre. The ministry said panic booking of LPG cylinders has eased, with 55 lakh bookings reported on Thursday. Sharma said there is adequate stock and no supply shortages, though she noted that LPG availability remains a concern.





She added that 7.5 lakh consumers have shifted from LPG to piped natural gas. Authorities have strengthened monitoring, with control rooms set up in 32 states and Union Territories. Enforcement action has intensified, with 4,500 raids conducted nationwide, including 1,100 in Uttar Pradesh, and 1,800 surprise inspections by oil marketing companies. Consumers were advised to follow door delivery systems for LPG cylinders. Separately, Shipping Ministry Special Secretary Rajesh Kumar Sinha said New Mangalore port has waived ground and reefer charges for crude and LPG shipments from March 14 to 31. The government said advisories have been issued to prevent panic buying, promote judicious LPG use and ensure availability of essential commodities.