India, March 20 -- Shares of India's oil marketing companies - Indian Oil, HPCL and BPCL - surged up to 3.5% today after an increase in premium petrol prices. There was no change in "normal" petrol prices.

The prices of premium petrol - BPCL's Speed, HPCL's Power, and IOCL's XP95 - has been increased by Rs.2.09- Rs.2.35 per litre, according to ANI post on X. There is no change in the price of regular petrol at present.

The state-run Indian Oil Corp. Ltd., Bharat Petroleum Corp. Ltd., and Hindustan Petroleum Corp. Ltd. have been absorbing the cost of a surge in crude oil prices due to Iran war. Every $10 rise in crude oil prices erodes erodes their margins by Rs.6.3/litre of petrol and diesel they sell, according to Elara Securities.

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