The ongoing Hormuz crisis and the spike in crude prices is now beginning to impact the daily petrol bills too. Oil marketing companies like, Hindustan Petroleum Corporation (HPCL) have increased the price of ‘Power’ petrol by Rs 2.09 per litre in metro cities like Mumbai and Delhi.The regular petrol prices, however, remain unchanged.
However, the price of normal petrol and diesel remains unchanged.
Premium 95-Octane petrol price in Delhi has been increased from Rs 99.89 per litre to Rs 101.89 in the national capital, news agency PTI reported quoting industry sources.
Alongside, bulk or industrial diesel prices were hiked from Rs 87.67 per litre to Rs 109.59 in Delhi, it said.
The update was confirmed by Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, at a media briefing Friday evening.
“Some increase is reported in the premium category which hardly makes up for 2-4 per cent of the entire petrol (sold in the country),” she said. “There is no increase in price for the common man.
Impact of high crude prices on HPCL, other OMCs
The hike in prices comes as India is facing the oil supply disruptions due to the ongoing Middle East conflict involving the US and Iran, which has led to a blockade of the Strait of Hormuz, a critical global energy supply route.
Crude prices are hovering near $100. Kotak Institutional Equities has also cut its FY27 EBITDA estimates for HPCL by around 45–47%, warning that earnings could weaken significantly if crude prices remain elevated.
HPCL share price
The HPCL share price is up 3% intra-day. However, over the last 1 month prices have corrected over 20% as a result of the escalation of violence across the Middle East and supply disruption through the Strait of Hormuz.
LPG price hiked last week
The government had already raised LPG cylinder prices by Rs 60 a few weeks ago. It had also curtailed LPG distribution for industrial use to prioritise household consumption.
The sale of LPG in India also slowed in the first half of March because of the same.
Why were LPG prices increased
The supply disruption along Strait of Hormuz has led to severe supply disruption. This route accounted for about 41% of India’s crude imports, 55% of LNG imports and nearly 88% of LPG imports in 9MFY26, according to Kotak Institutional Equities.
Kotak Institutional Equities added that the immediate concern is LPG supply, as around 54% of India’s LPG supplies could be impacted, while 96% of LPG consumption in the country is used for cooking.