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, providing some relief to consumers amidst rising costs. XP-95, while a premium offering, accounts for approximately 5 percent of total petrol sales in the country.
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 representative of IndianOil, stated, “IndianOil outlets across the country are well-stocked and functioning normally.”
He 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 intact.
As of March 20, 2026, IndianOil boasts a market capitalization of ₹2,04,193 Crore, and its Q3 standalone net profit has surged to ₹12,126 Crore, marking a remarkable 322% year-on-year increase from ₹2,874 Crore.
With over 2,800 flights fueled at 130 airports, IndianOil plays a crucial role in the aviation sector as well. The company’s ability to maintain operations amidst fluctuating global oil prices will be closely monitored by industry observers.
As the situation develops, officials and analysts will be watching closely to see how these price adjustments affect consumer behavior and overall fuel consumption in India.
