India, the world’s third-largest consumer of crude oil, imports around 85 percent of its requirements. In a significant move reflecting the volatile nature of global oil markets, IndianOil has increased the price of its premium petrol product, XP-95, by ₹2 per litre. This adjustment comes as 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 prices, standard petrol and diesel prices in India remain unchanged. XP-95, which accounts for approximately 5 percent of total petrol sales in the country, is primarily targeted at high-performance vehicles.

IndianOil, which serves 3.2 crore customers daily and refills over 27 lakh LPG cylinders, has reassured the public that there is no shortage of petrol or diesel in the country. A S Sahney, a spokesperson for IndianOil, stated, “IndianOil outlets across the country are well-stocked and functioning normally.”

He further emphasized the importance of relying on official information, warning that “unverified rumours can lead to unnecessary panic and disrupt supply.” Sahney urged consumers to avoid panic buying, reinforcing that the supply chain remains stable.

As of March 20, 2026, IndianOil’s market capitalization stands at ₹2,04,193 Crore, and the company reported a remarkable Q3 standalone net profit of ₹12,126 Crore, marking a 322% increase year-on-year from ₹2,874 Crore. This financial performance highlights the company’s resilience amidst fluctuating global oil prices.

IndianOil fuels over 2,800 flights at 130 airports, demonstrating its critical role in the aviation sector as well. The recent price hike of XP-95 is likely to be closely monitored by industry analysts, as it may signal future trends in fuel pricing across the board.

Observers are keenly watching how this price adjustment will affect consumer behavior and overall market dynamics in the coming weeks. The interplay between rising crude prices and domestic fuel pricing strategies will be pivotal in shaping the energy landscape in India.

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