Jaipur, March 20 (NationPress) In the wake of fluctuations in the global crude oil market and escalating geopolitical tensions in the Gulf, Oil Marketing Companies (OMCs) have raised the prices of premium petrol (branded fuel) in Rajasthan. The increase, which varies from Rs 2 to Rs 2.3 per litre, has been officially announced. Fortunately, the prices of regular petrol have been kept stable for the time being.

Sunit Bagai, the convenor of the Rajasthan Petroleum Dealers Association, informed IANS that this surge in premium petrol prices is unlikely to significantly affect the market, as premium petrol accounts for merely one percent of total petrol sales.

He elaborated that premium petrol (high-octane fuel) is treated as a free trade or deregulated commodity in India. It is marketed as a value-added luxury product for a niche group of consumers, allowing OMCs to adjust prices based on international market trends instead of government-mandated rates.

Bagai also expressed optimism that the ongoing conflict would resolve soon; otherwise, there could be repercussions for regular petrol prices as well.

It's essential to note that the premium petrol offerings from major oil companies have escalated in price, including Indian Oil (IOCL): XP95, XP100; Bharat Petroleum (BPCL): Speed, Speed 97; and Hindustan Petroleum (HPCL): Power Petrol, Power95.

Fuel dealers report an average price increase of approximately Rs 2.03 per litre. For example, in Jaipur, the price of premium petrol has surged from about Rs 111.68 per litre to over Rs 113.77 per litre.

Experts attribute this increase to disruptions in the global oil supply chain due to tensions in the Gulf region (Middle East). Premium fuels necessitate high-quality additives, which tend to spike in cost with shifts in international crude oil prices.

Consequently, oil companies have transferred these rising input costs onto consumers. Fortunately, regular petrol prices remain stable, providing some respite to the public, particularly in rural areas.

Throughout Rajasthan, petrol prices fluctuate between Rs 104.36 and Rs 106.21 per litre depending on the district. In Jaipur, the average price stands at Rs 104.72 per litre; in Jodhpur, it's Rs 104.61 per litre; Bikaner sees Rs 106.20 per litre; Sri Ganganagar, Rs 106.21 per litre; and Udaipur, Rs 105.51 per litre.

Bagai cautioned that if tensions in the Gulf persist, both petrol and diesel prices may experience further fluctuations in the upcoming weeks. Presently, oil companies are mainly managing the increasing costs through the pricing of premium fuels.