IOCL raises industrial diesel price by over ₹22.02

Indian Oil Corporation Limited has sharply increased the price of industrial diesel to ₹109.59 per litre from ₹87.57, marking a hike of over 25% (₹22.02), a move expected to significantly impact fuel-intensive sectors, as per reports.

The steep rise is likely to push up input costs for industries dependent on bulk fuel consumption, including manufacturing, logistics and power generation, potentially leading to higher production and transportation costs and a knock-on effect on prices of goods.

The revision comes against the backdrop of tightening global energy supplies amid escalating tensions in the Middle East and disruptions linked to the closure of the Strait of Hormuz, a critical route that handles nearly 20% of the world’s oil and gas shipments.

Meanwhile, prices of premium petrol have also been increased across the country. According to dealer sources, rates have gone up by around ₹2.30 per litre, affecting consumers who use high-octane fuel.

Premium petrol is typically used in high-performance vehicles to enhance engine efficiency and mileage. The latest hike is expected to add to fuel expenses for such users.