Stories
Nayara Energy Hikes Petrol by ₹5, Diesel by ₹3 Amid Rising Global Oil Costs
C
CNBC TV18•03-10-2026, 15:37
Nayara Energy Hikes Petrol by ₹5, Diesel by ₹3 Amid Rising Global Oil Costs
- •Nayara Energy, India's largest private fuel retailer, increased petrol prices by ₹5 per litre and diesel by ₹3 to align with rising international oil and refined-product costs.
- •This marks a renewed effort by Nayara to pass on higher costs after a period of relatively stable retail prices, following previous adjustments this year due to geopolitical disruptions.
- •Nayara operates 7,108 petrol pumps nationwide and was the first to raise prices earlier this year during the Iran conflict, later reversing the hike when crude prices eased.
- •State-owned oil marketing companies, which control over 90% of India's fuel pumps, have historically kept prices stable, leading to significant marketing losses estimated at ₹8-9 per litre for petrol and diesel in September.
- •The government recently urged private retailers not to cap fuel sales after Nayara and Jio-bp restricted volumes at some pumps due to losses, highlighting the growing pricing gap between retail and bulk diesel.
Key Questions Answered
Nayara Energy raised petrol prices by ₹5 per litre and diesel by ₹3 to narrow the gap between retail prices and rising international oil and refined-product costs caused by geopolitical disruptions.
State-owned oil marketing companies control over 90 percent of pumps and have historically kept prices stable despite fluctuating crude costs, whereas private retailers receive no government compensation for losses and must pass costs to consumers.
The government stated that private retailers should not cap petrol and diesel sales at their outlets after some pumps restricted volumes due to retail losses.
