New Delhi: The price of premium petrol in India has increased as tensions continue in West Asia. Fuel companies like Indian Oil Corporation and Hindustan Petroleum have raised prices by ₹2 to ₹2.23 per litre. Premium fuels such as XP95 and Power Petrol are now costlier.
The price hike is linked to the ongoing tensions involving the United States and Israel against Iran. However, there is no change in the price of regular petrol and diesel. Premium petrol is mainly used in high-capacity vehicles. The increase will affect those users.
The Strait of Hormuz remains closed. Experts warn that if the situation continues till the end of April, crude oil prices may rise to $180 per barrel. Meanwhile, the Ministry of Petroleum and Natural Gas said LPG bookings have reduced since the pandemic. Joint Secretary Sujatha Sharma said concerns about LPG supply still remain.
