West Asia war: Premium petrol hiked by over 2/ltr

Mumbai: Oil companies on Friday raised the price of premium petrol by Rs 2.09 per litre, tracking a sharp jump in global crude oil prices triggered by rising tensions between Iran and US-Israel. As per pump owners and company notifications, premium petrol brands such as Speed and Power now cost Rs 112.53 per litre in Mumbai, up from Rs 110.44. Ordinary petrol and diesel prices, however, remain unchanged across MMR.Premium petrol contains performance-enhancing additives. Industry sources said the move reflects volatility in international crude markets, where fears of supply disruption amid the West Asia conflict have pushed prices upward. India, which depends heavily on imported crude, is particularly vulnerable to such global shocks and domestic fuel pricing often comes under pressure when international oil benchmarks rise sharply. Ordinary petrol and diesel prices in India are unlikely to rise despite ongoing global tensions and volatility in crude markets, said a govt source, adding that the country has sufficient fuel stocks and supply buffers to meet domestic demand.A senior MGL official said piped gas for domestic and CNG supplies is 100% and cut in the supply to commercial establishments, like hotels, continue. The domestic supply of LPG is also 100% while commercial LPG cylinders are being distributed on priority to essentials, said an official from an oil marketing company.Sources from the industry said while consumers using regular fuel have been spared for now, the rise in premium petrol rates has renewed concerns over inflation, transport costs and the wider economic impact of prolonged instability in global energy markets.