HPCL Raises ‘Power’ Petrol Price by ₹2 in Mumbai Amid Crude Oil Surge

Hindustan Petroleum Corporation (HPCL) has increased the price of its premium ‘Power’ petrol by ₹2.09 per litre in Mumbai.

However, the price of regular petrol has not been changed. The hike has been confirmed at multiple fuel stations, though the company has not officially commented yet.

Reason Behind the Price Hike

The price increase comes as global crude oil prices remain high due to ongoing tensions in the Middle East.

Supply disruptions linked to the Strait of Hormuz, a key global oil route, have raised concerns about availability and pushed prices higher. Crude oil is currently trading near $100 per barrel.

Impact on Oil Companies

Higher crude oil prices are putting pressure on oil marketing companies (OMCs) like HPCL.

HPCL Share Price Performance

Hindustan Petroleum Corporation share price (NSE: HINDPETRO) closed at ₹338.95 on March 20, rising ₹14.15 or 4.36% for the day. The stock opened at ₹330.05 and touched an intraday high of ₹345.35, while the low remained at ₹330.05. The company has a market capitalisation of around ₹71,530 crore and is trading at a P/E ratio of 4.68. Over the past year, the stock has recorded a 52-week high of ₹508.45 and a low of ₹321.50. It offers a dividend yield of 3.02%, with a quarterly dividend payout of ₹2.56 per share.

LPG Prices Already Increased

Recently, the government also increased LPG cylinder prices by ₹60.

In addition, LPG supply for industrial use has been restricted to ensure availability for household consumption. Demand for LPG has also slowed in March due to supply issues.

Why Supply Disruptions Matter

The Strait of Hormuz is a critical route for India’s energy imports:

• Around 41% of crude oil imports pass through this route
• About 55% of LNG imports depend on it
• Nearly 88% of LPG imports are routed through it

Any disruption here can significantly affect fuel availability and prices in India.

Read More: FPIs Withdraw Over ₹52,700 Crore in March as Financial Stocks See Significant Selling!

Conclusion

The hike in ‘Power’ petrol prices reflects the impact of rising crude oil costs and global supply disruptions. 

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