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.
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 global crude surges. Private players Nayara, Shell and Jio-bp matched increases; states pressured to cut VAT.
Why this matters
Fourth hike in 11 days follows an earlier Rs 3/litre metro increase and a Rs 3.14 petrol move that squeezed FMCG, paints and CV demand. IOC has also flagged absorbing private retail spillover.
Retail-brand signals steady at 564 over the past 90 days.