00:01And given the shortage of all supplies, that has led to another development.
00:05Premium petrol prices that have now increased by Rs 2.
00:09IOCL and HPCL that have increased premium prices by Rs 2.
00:13The price of regular petrol that remains unchanged.
00:16Premium petrol prices at IOCL and HPCL pumps increased by Rs 2.00 a litre.
00:21IOCL XP95 that now stands at Rs 101.80 a litre.
00:27And HPCL that has also increased the price of its premium petrol by Rs 2.00.
00:33This is being reflected at various petrol pumps.
00:38At a time when oil supplies across the globe have been disrupted, given to the West Asia war.
00:46The impact that is already visible on the ground.
00:49Let me take this to my colleague Karishma Asudani who is joining us from the newsroom
00:54to take us through the details of how we see IOCL and HPCL now increase the price of premium petrol
01:00by Rs 2.00.
01:03Well, first of course to highlight and echo what you have said.
01:07That this is an increase in price of premium petrol which is mostly for performance vehicles
01:13and not the normal fuel which is of course used by the most of India
01:20and currently has not impacted that element at all.
01:24The OMCs have increased this owing to the fact of the fuel shortage in the country
01:31because of the oil crisis and of course the war conflict that has led to various discussions
01:37on how India is going to source its fuel.
01:40There has been a hike of between Rs 2.00 to Rs 2.38.
01:44Both OMCs, IOCL and HPCL has in fact given a statement on this on their respective websites.
01:52There has also been an increase in industrial fuel.
01:55That's seen a major jump.
01:57Industrial fuel is usually used by industries involved in heavy machinery
02:02or even logistics transportation where a lot of trucks are used for transportation.
02:09That is also going to have a major impact on the cost, the operating cost for various industries
02:15which may, you know, in the long run be passed on to a normal consumer or to a normal retailer.
02:22It's come on expected lines because of the impending oil shortage in the country
02:28but as of now there has been no impact when it comes to the normal fuel price.
02:33What has to be noted here is that Brent crude has jumped almost,
02:38surged by almost 50% just let alone this month
02:42and today if you see the rupee has also closed at a higher value of about close to $93
02:50which is not good news owing to the fact that the markets are reacting.
02:56There have been fluctuations noticed.
02:58Right, absolutely, Karishma.
03:00Let me also take this to Shivani.
03:02To really say, Shivani, it's been three weeks already.
03:05The war showed no signs of slowing down
03:09and the impact on the common man that is already visible.
03:12But this is just the beginning.
03:14More to come.
03:19Suresha, see, the concerns are big and real
03:22and we've been reporting about how the war in the West Asia has been now impacting multiple nations including India.
03:29We've seen the crisis for the LPG and how the government is making efforts for the safe passage of those
03:34merchant vessels
03:36that are stuck beyond the Strait of Hormuz.
03:39And now this petrol hike, though this is a selective hike by the companies on the premium category of petrol
03:45by 2 to 2.9 rupees,
03:48the impact on the petrol pump is not there because the price of the regular petrol remains the same.
03:55But yes, there are worries among the people that this is just the beginning after 20 days
04:00as there is a surge in the international petrol and crude oil prices
04:04and that may impact later or sooner other consumers across India.
04:10So this is a petrol pump in Delhi.
04:12You don't see much impact of the announced 2 rupee price hike on the high-speed petrol by the companies.
04:19What is the choice that the common man is left with, Shivani?
04:21Not much to really say because it's not like we can stop commuting on a daily basis
04:25and do what is what the entire nation is grappling with at this point.
04:30I want to thank you for getting us all those details.
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