India, the world’s third-largest consumer of crude oil, imports approximately 85 percent of its requirements. In a significant development, IndianOil has announced an increase in the price of its premium petrol product, XP-95, by ₹2 per litre. This change comes at a time when international crude oil costs have nearly doubled from US$71 to US$156 per barrel over the past 20 days.
Despite this increase in premium petrol pricing, standard petrol and diesel prices in India remain unchanged. XP-95, which accounts for about 5 percent of total petrol sales in the country, is primarily targeted at high-performance vehicles.
IndianOil, which serves around 3.2 crore customers daily and refills over 27 lakh LPG cylinders, has reiterated that there is no shortage of petrol or diesel in the country. A S Sahney, a representative of IndianOil, stated, “IndianOil outlets across the country are well-stocked and functioning normally.”
In response to the rising prices, Sahney cautioned against panic buying, emphasizing that unverified rumors could lead to unnecessary panic and disrupt supply chains. He urged consumers to rely solely on official information, stating, “Avoid panic buying and rely only on official information.”
As of March 20, 2026, IndianOil’s market capitalization stands at ₹2,04,193 Crore, reflecting its robust position in the market. The company’s Q3 standalone net profit has surged to ₹12,126 Crore, marking a remarkable 322% year-over-year increase from ₹2,874 Crore.
IndianOil also plays a crucial role in the aviation sector, fueling over 2,800 flights at 130 airports across India. This extensive network underscores the company’s importance in maintaining the country’s energy supply.
Observers note that as crude oil prices continue to fluctuate, further adjustments in fuel pricing may be necessary. The situation remains dynamic, and stakeholders are closely monitoring market conditions.
Details remain unconfirmed regarding any potential future price adjustments for standard petrol and diesel, but the current landscape suggests that consumers should stay informed about ongoing developments in the energy sector.
