India, the world’s third-largest consumer of crude oil, imports approximately 85 percent of its oil requirements. In a significant move, IndianOil Corporation has announced an increase in the price of its premium petrol product, XP-95, by ₹2 per litre. This adjustment comes in the wake of international crude oil prices nearly doubling from US$71 to US$156 per barrel over the past 20 days.
Despite this hike in premium petrol, standard petrol and diesel prices across India remain unchanged, a decision that has drawn attention amid the fluctuating global oil market. XP-95, which accounts for about 5 percent of total petrol sales in the country, is primarily targeted at high-performance vehicles.
IndianOil serves a staggering 3.2 crore customers daily and refills over 27 lakh LPG cylinders, showcasing its extensive reach across the nation. Furthermore, the company fuels over 2,800 flights at 130 airports, underscoring its pivotal role in India’s energy infrastructure.
In light of the recent price change, IndianOil has reassured the public that there is no shortage of petrol or diesel in the country. “There is no shortage of petrol or diesel in the country: Indian Oil Corporation,” stated the company, emphasizing its commitment to maintaining supply.
Arvinder Singh Sahney, a key spokesperson for IndianOil, echoed these sentiments, noting that “IndianOil outlets across the country are well-stocked and functioning normally.” He urged the public to avoid panic buying, warning that “unverified rumours can lead to unnecessary panic and disrupt supply.”
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, reflecting a staggering 322% year-over-year increase from ₹2,874 Crore.
Observers are keenly watching how this price adjustment will affect consumer behavior and overall fuel consumption in the coming weeks. The company has urged customers to rely solely on official information to avoid unnecessary panic.
With the global oil market remaining volatile, it is likely that further adjustments may occur in the future as IndianOil navigates these challenging economic waters. As the situation develops, stakeholders will be monitoring the implications for both consumers and the broader energy market.
