Petrol prices hiked (AI IMAGE)
PREMIUM PETROL PRICE HIKE: Premium petrol just got more expensive i.e Rs 2 to Rs 2.3 more per litre. Regular petrol and diesel haven’t budged, though.
Dealers in a few cities said some spots saw a hike of about Rs 2.09 per litre, but the bottom line is: it’s mostly high-octane variants that got hit. We’re talking about Indian Oil’s XP95, Hindustan Petroleum’s Power petrol, and similar high-performance fuels for cars that need a little extra juice for their engines.
The new prices kicked in on March 20, and the reason behind the jump seems pretty clear. Global crude oil prices are climbing again, and there are worries about supply thanks to fresh tensions in West Asia.
India buys most of its crude from abroad, so when prices spike, domestic fuel costs feel it too, especially with the rupee doing its usual dance against the dollar.
Oil companies haven’t touched regular petrol and diesel prices, though. Those rates have been flat for ages, even as the rest of the world’s oil markets wobble all over the place.
This seems like a move to offset some cost pressure without upsetting most consumers by bumping up prices only on premium fuel, they avoid angering everyone who just needs regular gas to get to work or school.
(This is BREAKING NEWS. More details awaited.)
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