Petrol Price Hike In India: Why A 13% To 14% Increase Is On The Radar If Crude Hits $130

India has not raised petrol and diesel prices yet, but analysts see a possible 13% to 14% hike if crude stays high and crosses $130.

Petrol price hike worries are back after crude oil moved above $100 a barrel. For now, pump prices in India are steady. Government sources told The Times of India on March 9, 2026 that retail rates are unlikely to rise unless crude breaches $130 per barrel. 

The pressure point is clear. A Financial Express report published on March 9, 2026 said a move from $75 to $100 crude may require a ₹12 to ₹13 per litre increase in retail fuel prices for full pass-through.

Crude Above $100 Puts Petrol Prices Back In Focus
 

The current issue is simple. India has not announced a petrol price hike, but crude has turned expensive again. According to The Economic Times, published on March 10, 2026, state-run oil companies are expected to absorb some pain for now because they had stronger margins earlier. Government sources have said there is no shortage of fuel and pump supplies remain normal.
 

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Best Fuel Credit Cards That Can Help Cut Petrol Bills

The biggest number in this story is the likely increase. Financial Express reported on March 9, 2026 that if crude rises from $75 to $100 a barrel, OMCs may need to raise retail fuel prices by ₹12 to ₹13 per litre. With Delhi petrol earlier priced at ₹94.72/litre after the last cut, that works out to roughly 12.7% to 13.7%, or about 13% to 14%. The same report said IOC, BPCL and HPCL could face ₹10,000 crore to ₹15,000 crore in monthly losses without a price revision or fiscal support.
 

Why OMC Losses Are Rising Despite No Immediate Fuel Price Revision

This story goes back to the last retail revision. Reuters reported on March 14, 2024 that state fuel retailers cut petrol and diesel prices by ₹2 per litre, effective March 15, 2024, 6 am. That took Delhi petrol to ₹94.72/litre and diesel to ₹87.62/litre. Since then, retail prices have stayed largely unchanged even as global crude moved sharply.

Statements By Stakeholders
 

Government sources quoted by TOI said prices are unlikely to rise unless crude crosses $130. Analysts quoted by Financial Express said the stress on OMCs becomes sharper once inventory gains fade.

Conclusion

India has not hiked petrol prices yet. But if crude crosses $130, a 13% to 14% petrol price increase could come into play, making fuel-saving credit cards more relevant for regular users.