India is the world’s third-largest consumer of crude oil, importing around 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 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 pricing, standard petrol and diesel prices in India remain unchanged. XP-95 accounts for approximately 5 percent of total petrol sales in the country, indicating that the impact of this price rise may be limited to a specific segment of consumers.

IndianOil serves around 3.2 crore customers daily and refills over 27 lakh LPG cylinders, playing a crucial role in the energy supply chain across India. Additionally, the company fuels over 2,800 flights at 130 airports, demonstrating its extensive reach in the aviation sector.

A S Sahney, a representative of IndianOil, stated, “There is no shortage of petrol or diesel in the country: Indian Oil Corporation.” He emphasized that IndianOil outlets across the country are well-stocked and functioning normally.

Furthermore, Sahney warned against unverified rumors that could lead to unnecessary panic and disrupt supply, urging consumers to avoid panic buying and rely only on official information.

As of March 20, 2026, IndianOil’s market capitalization stands at ₹2,04,193 Crore. The company’s financial performance has also shown significant improvement, with a Q3 standalone net profit of ₹12,126 Crore, marking a 322% year-on-year increase from ₹2,874 Crore.

Observers are closely monitoring the situation as the global crude oil market remains volatile. The company’s ability to manage pricing and supply amid fluctuating crude prices will be critical in the coming weeks.

Details remain unconfirmed regarding any further adjustments to fuel prices or potential impacts on supply chains as the situation evolves.

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