State-run Oil Marketing Companies (OMCs) like IOCL, BPCL, etc, have raised the price of industrial diesel on Wednesday, April 1, driven by the Middle East conflict and rising crude prices.
Industrial diesel, or HSD, sold in bulk directly to commercial establishments, has been hiked by Rs 28.22 a litre — an over 25% increase — taking the price from Rs 109.59 to Rs 137.81 per litre, as per communication seen by NDTV Profit.
In the same note, it was mentioned that FO (Furnace Oil) was hiked by Rs 23.77 per litre.
The note also highlighted that all PSU oil marketing companies (OMCs) are continuing smooth supplies to industrial and bulk (IB) customers, and there is no disruption in availability.
Pump prices are steady for ordinary petrol and diesel consumers have been kept unchanged.
ALSO READ: Centre Activates Slew Of Relief To Protect Industry From War Shock
On March 20 too, the prices of bulk or industrial diesel were hiked from Rs 87.67 per litre to Rs 109.59 in Delhi as the OMCs increaased the cost by Rs 22 a litre. Whereas, premium 95-Octane petrol was increase by Rs 2.
Meanwhile, international oil prices touched USD 108.40 per barrel on Thursday on intensifying Iran war.
Amid abnormal increase in crude prices, the government has imposed an export levy of ₹21.5 per litre on diesel and ₹29.5 per litre on aviation turbine fuel (ATF) to ensure availability of these products in the domestic market.
Providing an update on the current fuel supply situation, the Ministry of Petroleum and Natural Gas stated that all refineries are operating at high capacity, with adequate crude inventories in place, and sufficient stocks of petrol and diesel are being maintained.
ALSO READ: India to Join UK-Led Talks on Reopening Strait of Hormuz: MEA
The officials also noted that regular retail prices for petrol and diesel remain unchanged. However, the noted that instances of panic buying due to rumours have been reported in certain areas, resulting in unusually high sales and crowding at retail outlets.
The Petroleum Secretary also chaired a meeting with Additional Chief Secretaries and Principal Secretaries (Food & Civil Supplies) of all States and Union Territories to review the fuel supply situation across the country.
The secretary stressed that states and union territories must actively manage and prioritise LPG distribution to ensure uninterrupted supply for domestic consumers and essential sectors. States were also advised to maintain strict vigilance against hoarding, diversion, and the spread of misinformation that could trigger unnecessary panic.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
