Petrol Price Hike: It has begun in India as well—premium petrol prices rise by over ₹2.

Petrol and diesel prices have started rising in India. According to reports from oil companies, the prices of premium petrol brands—such as 'Speed' and 'Power'—have been hiked by ₹2.09 per liter. This price increase has been implemented across various cities. The revised rates came into effect on March 20, 2026.

Following a hike of over two rupees in premium petrol prices, the cost in Lucknow—the capital of Uttar Pradesh—now stands at ₹103.92 per liter. Meanwhile, in Pune, the price of premium petrol has risen to ₹113.77.

Although oil companies have raised the prices of premium petrol, the prices of regular petrol and diesel have not yet been increased. On the global stage, crude oil prices have surged past the $100-per-barrel mark due to the ongoing conflict in Iran.

According to dealers, the prices of branded fuels—such as HPCL's 'Power Petrol' and IOCL's 'XP95'—have gone up. Premium petrol is typically used to ensure superior engine performance and better mileage.

Crude Oil Prices Above $100 Per Barrel

Crude oil prices declined on Friday as major European nations and Japan offered to join efforts to ensure the safe passage of ships through the Strait of Hormuz, and as the United States took steps to boost oil supplies. Nevertheless, prices remained above the $100 level.

Despite this, the benchmark Brent crude is expected to post a gain of approximately 5% this week, following attacks by Iran on oil and gas facilities in Gulf nations, which necessitated production cuts.