New Delhi, March 20: Industrial consumers and premium vehicle owners in Delhi face higher fuel costs this week as global crude oil prices reached a high of $119 per barrel. The price for premium petrol has been adjusted upward to Rs 101.89 per liter, marking a Rs 2 increase, while industrial-grade diesel saw a significant rise of Rs 22, now retailing at Rs 109.59. The price correction follows increased geopolitical friction in the Middle East, which has placed upward pressure on energy markets worldwide.
The Petroleum Ministry has clarified that the price revision does not extend to the regular fuel variants used by the majority of motorists. Joint Secretary Sujata Sharma affirmed that the price of regular petrol and diesel remains stable at Rs 94.77 and Rs 87.67, respectively. She maintained that the premium segment represents a very small fraction of the country’s total fuel consumption, meaning the vast majority of citizens will not experience an increase in their commuting or transport expenses.
The decision to keep regular fuel prices stagnant reflects a long-term strategy of price smoothing by Indian oil companies. Although the sector was deregulated years ago, allowing companies to set prices based on market discretion, firms like Indian Oil and Bharat Petroleum have largely held rates steady for nearly four years. Sharma declared that this approach helps recover previous losses during periods of low global prices while protecting consumers when international markets are volatile.
Market experts noted that the Rs 22 jump in industrial diesel is one of the more substantial adjustments for the bulk sector in recent months. However, the government asserted that the priority remains the protection of the retail consumer. Sharma stated that by keeping regular fuel prices firm, the government is ensuring that essential transport costs do not trigger a wider rise in the cost of living for the general population.
