March 20, 2026: Rising tensions in the Gulf region have disrupted global crude oil and gas supplies, creating challenges for countries dependent on energy from the conflict-hit area. Petroleum Minister Agarwal noted that the ongoing war has widened the gap between demand and supply, contributing to higher fuel costs. As a result, petrol rates in India have risen, with state-owned companies like Hindustan Petroleum and Indian Oil Corporation increasing the price of premium petrol by Rs 2.09 to Rs 2.35 per litre. Branded fuels such as Power Petrol and XP95 now cost around Rs 113.77 per litre, up from Rs 111.68.
The minister added that the current spike in petrol rates is a result of tight supply conditions combined with elevated global demand. He reassured that prices are expected to stabilise once the situation in the Gulf region returns to normal.
Reflecting the global price rise, state-owned oil companies including Hindustan Petroleum and Indian Oil Corporation increased the price of premium petrol by Rs 2.09 to Rs 2.35 per litre from March 20. Following the revision, branded fuels like Power Petrol and XP95 now cost around Rs 113.77 per litre, up from Rs 111.68.