Petrol, diesel price today: While oil companies hiked prices of premium petrol by ₹2 on Friday, there is no change in rates of regular petrol and diesel.
Indian oil companies increased the price of premium petrol, also called power or speed petrol, by ₹2 on Friday with immediate effect amid disruptions in global energy supplies due to the Middle East conflict that US-Israeli strikes on Iran triggered.
Prices of BPCL’s Speed, HPCL’s Power, and IOCL’s XP95 have been increased by ₹2.09 to ₹2.35 per litre, ANI news agency reported. Track US-Iran war live updates here
However, there is no change in the price of regular petrol at present, neither are diesel prices changed.
The increase in power petrol price comes as the Strait of Hormuz, the key waterway which carries 20 per cent of world’s oil and liquefied natural gas requirements, remains virtually closed off because of Iran’s retaliatory strikes to the February 28 US-Israeli attack that has killed hundreds so far, including Iranian Supreme Leader Ayatollah Ali Khamenei.
The drone and missile exchange that has rattled the entire Gulf region saw a sharp escalation this week after Israel targeted a key gas field in Iran and the latter retaliated by hitting world’s largest LNG facility in Qatar – which is on the same on the other end of the same gas field.
The gas field under the Gulf is the world’s largest and is shared by Iran and Qatar. It is called South Pars on the Iranian side and North Field or North Dome on the Qatari side. Iran relies on the field to meet its domestic energy requirements, while Qatar uses it for global LNG exports. Read full HT report on the impact of the gas field here.
