No change in regular fuel price despite global surge, says IndianOil

Indian Oil Corp has increased the price of its premium petrol XP-95 only, keeping regular auto fuel prices stable despite a global crude spike. Industrial diesel prices rose 25%. The government assures there is no shortage of supply of essentials.

Indian Oil Corp Ltd (IOCL) announced that its recent fuel price revision applies exclusively to its premium petrol brand, XP-95, ensuring that the move results in minimal impact on overall domestic consumption. IOCL noted that the decision came as "global crude oil prices surged from USD 71 to USD 156 per barrel within the last 20 days". Despite this sharp international spike, the company maintained that no price increase occurred for regular automotive fuel across the country.

IOCL Hikes Only Premium Petrol Price

"As global crude prices surge, stability at home matters more than ever. IndianOil has ensured no increase in regular automotive fuel prices in India, even amid rising international costs. A limited revision applies only to premium petrol XP-95, with minimal impact on overall consumption. Through evolving global conditions, the focus remains clear: consistent supply, responsible pricing, and service you can rely on," Indian Oil Corp said in a statement.

During an inter-ministerial briefing held on Friday to discuss the availability of essential commodities, Sujata Sharma, Joint Secretary at the Ministry of Petroleum and Natural Gas, confirmed the pricing strategy. Sharma stated, "Prices of premium category petrol have been increased. It has been decided by the Oil Marketing companies."

"Normal petrol and diesel prices have not been increased," she noted.

Meanwhile, prices of industrial diesel have also increased by 25 per cent from Rs 87.67/ltr to Rs 109.59/ltr.

LPG Supply and Consumer Trends

The Ministry of Petroleum and Natural Gas said that panic booking of LPG cylinders has declined significantly, with only 55 lakh bookings reported on Thursday. "There is no panic booking now. Only 55 lakh LPG booking reported yesterday," she said.

Reassuring consumers, Sharma also said that there is no shortage of supply across the country. "There is adequate stock available, no outlets are dry out," she stated. However, she acknowledged that concerns still remain. "LPG issue is still worrisome," she said.

Highlighting a shift in consumer behaviour, Sharma noted that many users are moving to piped gas. "7.5 lakh LPG customers shifted to PNG," she said.

Government Strengthens Monitoring and Enforcement

On the steps taken by authorities, Sharma informed that monitoring mechanisms have been strengthened nationwide. "32 states and UTs have set up control rooms and district monitoring committee," she said.

She also pointed to strict enforcement actions to prevent irregularities. "4500 raids conducted yesterday across the country, including 1100 raids in UP," she said, adding, "1800 surprise inspections done by OMCs."

Appealing to the public, Sharma urged consumers to follow proper delivery channels. "Appeal to follow the door delivery system of LPG cylinders," she said.

Logistical Relief Measures

Special Secretary of the Shipping Ministry, Rajesh Kumar Sinha, further noted the logistical relief measures to support supply. "New Mangalore port has issued notification of relief for ground and reefer charges for crude and LPG from 14 to 31 March," he said.

The government has issued advisories to prevent panic buying, encourage judicious use of LPG, and disseminate accurate information.

Overall, the government is taking all necessary measures to ensure the availability of essential commodities and maintain normalcy in the country. (ANI)

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