Public sector oil marketing companies (OMCs) across India have announced an upward revision in the price of premium petrol, effective from today. This adjustment reflects the dynamic nature of global crude oil markets and other associated costs, impacting consumers nationwide. While regular petrol and diesel prices generally remained stable in many regions, the increase specifically targets higher-octane or additive-enhanced petrol variants.

The decision to revise premium petrol prices comes as part of the OMCs' routine daily pricing mechanism, which evaluates international crude oil benchmarks, foreign exchange rates, and local taxation. This daily review ensures that fuel prices align with prevailing market conditions. Premium petrol, often chosen for its specific performance benefits, constitutes a segment of the overall fuel market. The marginal increase for these specialized fuels adds to the operational costs for vehicles that specifically utilize them.

Fuel prices, including both petrol and diesel, are subject to daily alterations at 6 AM IST. These revisions are implemented by public sector giants such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL). The final retail price paid by consumers includes central excise duty, state-specific Value Added Tax (VAT), and dealer commission, all of which contribute to the variation in prices across different states and cities. Global crude oil prices play a pivotal role in these calculations; an increase in international benchmarks typically translates to higher domestic fuel costs, while a decline can lead to reductions.

Current fuel prices for today in major Indian metropolitan cities are as follows:

  • New Delhi: Petrol is priced at approximately ₹94.20 per litre, with diesel at around ₹87.62 per litre.
  • Mumbai: Residents are paying roughly ₹104.19 for petrol and ₹92.00 for diesel per litre.
  • Chennai: The cost for petrol stands at about ₹100.75 per litre, and diesel at ₹92.34 per litre.
  • Kolkata: Petrol is available for approximately ₹103.94 per litre, while diesel costs around ₹90.76 per litre. (Note: These prices reflect the latest available data at the time of reporting and include the premium petrol adjustment where applicable, though the specific premium variants will carry a higher price point than the standard petrol listed.)

Consumers are advised to monitor daily price updates, which are publicly available through various channels, including OMC websites, mobile applications, and SMS services. The daily revision mechanism is expected to continue, with future price movements remaining contingent on the volatility of international crude oil prices and the strength of the Indian Rupee against the US Dollar. The impact of this premium petrol price hike will be primarily felt by owners of vehicles requiring or opting for these specific fuel types.