PSU fuel retailers hike petrol, diesel by Rs 7.5/litre in 11 days as crude surges past 50%
IOC, BPCL and HPCL pushed through a fourth price increase in 11 days, lifting petrol to Rs 115.69 in Hyderabad and Rs 102.12 in Delhi. Private retailers Nayara, Shell and Jio-bp matched the move. With PSUs holding ~90% share and VAT up to 30%, pressure mounts on states to cut taxes.
What happened
Indian Oil Corporation · State-run fuel retailers IOC, BPCL, HPCL hiked petrol and diesel prices for the fourth time in 11 days, totaling Rs 7.5/litre, as
Key facts
- Rs 7.5/litre cumulative hike
- Rs 2.61-2.71/litre latest hike
- petrol Rs 115.69 Hyderabad
- diesel Rs 104.40 Kerala
- petrol Rs 102.12 Delhi
- VAT up to 30%
- PSUs ~90% market share
- crude up >50% since Feb
Why this matters
Coordinated PSU-private pricing signals a stable oligopoly worth underwriting, but the political risk of tax-led rollbacks makes near-term M&A in fuel retail less attractive than adjacent EV charging or convenience-retail plays at the same sites.