Indian Oil Corporation Limited says its 10 refineries are operating round the clock at above 100 percent capacity to prevent any fuel shortage after the Centre raised petrol and diesel prices by Rs 3 per litre nationwide. IOCL Director (Refineries) Arvind Kumar told ANI the increase is “a very small rise” amid global pressures. Petrol rose to Rs 97.77 in Delhi and over Rs 108 in Kolkata, while IOCL is also pushing zero-emission hydrogen buses for Delhi Metro routes.
On May 15, shares of public sector oil marketing companies fell after petrol and diesel prices were raised by about Rs 3 per litre. Hindustan Petroleum (HPCL) dropped over 2% to an intraday low of ₹367.10, BPCL slid about 2% to ₹289.05, and IOCL eased 0.6% to ₹139.35. The move came as Brent traded near $107 and WTI near $102.4 amid a crude oil crisis and geopolitical worries around the Strait of Hormuz, while Delhi and other cities saw price increases.
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