Delhi, March 20: Hindustan Petroleum Corporation Limited (HPCL) has increased the price of its premium petrol price by Rs 2 per litre.
The revised rates came into effect on Friday.
Although the state-run petroleum company didn't specify any reason behind the hike, it is believed that fluctuations in global crude oil prices and changes in logistics costs amid the ongoing Iran-US conflict might be the cause.
On the other hand the price of HPCL's normal petrol remains unchanged.
Earlier in the day, crude oil prices fell to $105 per barrel as leading European nations and Japan offered to join efforts to secure safe passage for ships through the critical Strait of Hormuz. The US also outlined moves to boost oil supply. The efforts came after oil price crossed the $110-mark due to Iranian strikes on energy infrastructure in several Gulf nations.
According to reports, some oil marketing companies have also hiked the premium petrol price by up to Rs 2.35 per litre with immediate effect on Friday amid the ongoing war between US-Israel and Iran that has led to global energy disruptions.
