India, March 9 -- International benchmark Brent crude oil price soared 45-month high of nearly $120 per barrel on Monday morning, 64% jump from $72.87 a barrel before the US-Israel war with Iran 10 days ago, squeezing Indian refiners' margins on petrol and diesel.

Experts said Indian refiners, particularly state-run firms like Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation, should hold the pump prices for petrol and diesel as they had reaped huge benefits of lower international oil prices without proportionately reducing retail prices of auto fuels. Combined net profit of the three firms rose 192% to Rs.57,810 crore in the first nine months of FY26 from Rs.19,768 crore a year earlier.

Experts s...