Jaipur, March 20 (SocialNews.XYZ) Amid volatility in global crude oil markets and rising geopolitical tensions in the Gulf region, Oil Marketing Companies (OMCs) have increased the prices of premium petrol (branded fuel). In Rajasthan, the hike, ranging between Rs 2 and Rs 2.3 per litre, has been announced. However, there is some relief as prices of regular petrol remain unchanged for now.
Sunit Bagai, convenor of the Rajasthan Petroleum Dealers Association, told IANS that the increase in premium petrol will not have much impact as it contributes only one per cent of total petrol sales.
He said that premium petrol (high-octane fuel) is considered a free trade/deregulated product in India because it is marketed as a value-added luxury product used by a small segment of consumers. This allows Oil Marketing Companies (OMCs) to price it according to international market conditions rather than government-fixed rates.
Meanwhile, he expressed hope that the conflict would ease soon, or else the pressure might be felt on regular petrol as well.
It may be noted that premium petrol from major oil companies has become more expensive, including Indian Oil (IOCL): XP95, XP100; Bharat Petroleum (BPCL): Speed, Speed 97; and Hindustan Petroleum (HPCL): Power Petrol, Power95.
According to fuel dealers, the average hike is around Rs 2.03 per litre. In Jaipur, for instance, premium petrol prices have risen from approximately Rs 111.68 per litre to over Rs 113.77 per litre.
Experts attribute the hike to disruptions in the global oil supply chain caused by tensions in the Gulf (Middle East). Premium fuels require high-quality additives, the cost of which rises quickly with fluctuations in international crude oil prices.
Oil companies have passed on this increased input cost to consumers. For now, regular petrol prices remain stable, offering some relief to the general public, especially in rural areas.
Across Rajasthan, prices range between Rs 104.36 and Rs 106.21 per litre depending on the district. The average price in Jaipur is Rs 104.72 per litre; in Jodhpur, Rs 104.61 per litre; in Bikaner, Rs 106.20 per litre; in Sri Ganganagar, Rs 106.21 per litre; and in Udaipur, Rs 105.51 per litre.
Bagai, meanwhile, warned that if tensions in the Gulf region persist, prices of both petrol and diesel may see further fluctuations in the coming weeks. For now, oil companies appear to be offsetting rising costs primarily through premium fuel pricing.
Source: IANS
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