Our Bureau
Mumbai
State-run oil companies have hiked industrial diesel prices by Rs 28.22 per litre due to the Middle East crisis and rising crude oil costs. The new rate is now Rs 137.81 per litre for high-speed diesel (HSD) sold in bulk to factories and businesses.
This is the second big rise in just two weeks. On March 20, companies like Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Ltd (BPCL) had increased it from Rs 87.67 to Rs 109.59 per litre, up by Rs 22. The hike on Wednesday, April 1, marks over 25% jump from the last price. In the same note, furnace oil (FO) prices went up by Rs 23.77 per litre.
Oil firms blame the conflict involving Iran, which pushed global crude to USD 108.40 per barrel on Thursday. They say supplies to industrial users are smooth with no shortages. All PSU oil marketing companies (OMCs) are keeping bulk diesel flowing without breaks.
Good news for drivers: Petrol pump prices for regular petrol and diesel stay the same. No change for car owners or two-wheeler users. On March 20, they did raise premium 95-octane petrol by Rs 2 per litre, but retail diesel held steady.
The government has added export levies to keep fuel in India—Rs 21.5 per litre on diesel and Rs 29.5 on aviation fuel. Refineries run at full speed, with enough stocks of petrol and diesel to meet needs, says the Petroleum Ministry.
This move hits industries hard as they pay more for fuel. Businesses using bulk diesel for trucks, generators, and machines face higher costs now. Experts watch if crude prices stay high due to Middle East unrest. Retail users get a break, but factories feel the heat from this sharp rise.
