India, the world’s third-largest consumer of crude oil, imports around 85 percent of its requirements. In a significant move, 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 the increase in XP-95 prices, standard petrol and diesel prices in India remain unchanged. XP-95 accounts for approximately 5 percent of total petrol sales in the country, indicating its niche market presence.
IndianOil serves around 3.2 crore customers daily and refills over 27 lakh LPG cylinders. The company also fuels over 2,800 flights at 130 airports across India, showcasing its extensive operational reach.
A S Sahney, a representative from IndianOil, emphasized that there is no shortage of petrol or diesel in the country, stating, “There is no shortage of petrol or diesel in the country: Indian Oil Corporation.” He further assured that IndianOil outlets across the country are well-stocked and functioning normally.
Sahney cautioned against unverified rumors that could lead to unnecessary panic and disrupt supply, urging customers 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 Q3 standalone net profit has reached ₹12,126 Crore, marking a remarkable 322% year-on-year increase from ₹2,874 Crore.
Observers note that the price adjustment reflects the ongoing volatility in global oil markets. The situation remains dynamic, and further developments are anticipated as the market responds to fluctuating crude oil prices.
Details remain unconfirmed regarding potential future price adjustments for standard petrol and diesel, as IndianOil continues to monitor the situation closely.
