Increase in Premium Petrol Prices Amid Global Oil Surge

The price of premium petrol in India has risen by Rs 2 per litre due to escalating global oil prices linked to conflicts in West Asia. While regular petrol and diesel prices remain unchanged, the increase in premium fuel has raised concerns about its impact on consumers. The Ministry of Petroleum clarified that the government does not regulate these prices, which are determined by oil companies. The ongoing tensions in the region, particularly involving Iran, have further complicated the situation, affecting global oil supply routes. Read on to learn more about the implications of these changes.

By Narendra Chaudhary Mar 20, 2026, 20:22 IST

Premium Petrol Prices Rise

On Friday, the cost of premium petrol saw an increase of Rs 2 per litre, driven by a rise in global oil prices linked to ongoing tensions in West Asia. However, the prices for regular petrol and diesel remained unchanged.

In Delhi, the price for 95-octane petrol, categorized as premium, rose from Rs 99.8 to Rs 101.8 per litre. In contrast, regular petrol stayed at Rs 94.7 per litre, while diesel was priced at Rs 87.6 per litre.

Regular petrol typically has an octane rating between 91 and 92, making it suitable for standard engines and providing sufficient performance for daily driving. An octane rating indicates the fuel's stability.

Additionally, the price of bulk diesel for industrial consumers increased by approximately Rs 22 per litre, rising from Rs 87.6 to Rs 109.5 in the national capital.

Earlier in the day, Sujata Sharma, the joint secretary at the Ministry of Petroleum and Natural Gas, informed the media that there would be no increase in the prices of regular petrol and diesel. She noted, “The premium category has seen a slight increase, which constitutes only about 2%-4% of the total petrol sold in the country. There is no price hike affecting the average consumer.”

Sharma explained that pricing decisions are made independently by oil companies, as petrol pricing was deregulated in 2010 and diesel in 2014. “The government does not control petrol and diesel prices,” she added.

The conflict in West Asia escalated on February 28, following an attack by the United States and Israel on Iran. In response, Iran has launched missiles and drones targeting various locations in the Gulf, including US military bases and significant urban areas.

Israel has expressed concerns that Iran is nearing the capability to develop a nuclear weapon, which could disrupt the regional security dynamics. Iran, however, insists that its nuclear ambitions are solely for peaceful purposes.

In the midst of this conflict, Iran has effectively restricted access to the Strait of Hormuz, a crucial maritime route for international shipping. This strait is vital, as it facilitates the passage of approximately 20% of the world's petroleum supply.

India relies on imports for 88% of its crude oil and about half of its natural gas, with a significant portion transported through the Strait of Hormuz.

On the same day, the price of benchmark Brent crude oil fell to $105 per barrel, down from a peak of $119 the previous day. Prior to the conflict, on February 27, the price was recorded at $78 per barrel.