Petrol Price Hike: War in Middle East Makes Premium Fuel Costlier in Bengaluru, Karnataka

Premium petrol prices rise by ₹2–₹2.17 per litre in Bengaluru, Karnataka, following Middle East oil facility attacks. Industrial diesel jumps ₹22, as global crude supply disruptions hit India.

Bengaluru: The heat from the Middle East conflict is now being felt right here in India. After facing gas shortages that troubled everyone from hotel owners to households, we are now looking at a fuel crunch. Attacks between Iran and Israel on major oil facilities have disrupted the global supply, leading to a price rise in India. As a result, premium petrol has become more expensive across all petrol bunks in Bengaluru and the rest of Karnataka.

Premium Petrol Dearer by ₹2

At most petrol bunks, the price of premium petrol has gone up by ₹2 per litre. This hike comes right after international crude oil prices shot up following the attacks on oil refineries. Shell was the first to increase its premium petrol price by ₹2 on March 20. Following their lead, all other companies have now made premium petrol more expensive from today.

HPCL Hikes Price by ₹2.17

While most companies stuck to a ₹2 hike, HPCL has increased its premium petrol price by ₹2.17 per litre. The price for a litre of HPCL's premium petrol has jumped from ₹110.97 to ₹113.14. For now, the price of regular petrol remains unchanged. However, there is a growing worry that prices for regular fuel might also go up in stages.

Industrial Diesel Jumps by ₹22

There has been a massive price shock for industries. The price of bulk diesel used for industrial purposes has shot up by ₹22 per litre. The rate has gone from ₹87.67 per litre to a staggering ₹109.59 per litre.

Attacks on Oil Facilities

The situation escalated after Israel intensified its conflict with Iran by attacking its oil facilities, including one of Iran's largest refineries. In retaliation, Iran reportedly targeted major oil and LNG facilities in Saudi Arabia and Qatar, including the world's largest LNG plant. This has directly impacted oil and gas supplies. On the very first day of the attacks, the price of crude oil had already climbed to $112 a barrel and has been rising since.