Nayara Energy, India's largest private fuel retailer, increased petrol prices by ₹5 per litre and diesel prices by ₹3 per litre with immediate effect from early Saturday, according to livemint.com. This marks another price revision this year amid ongoing global energy price pressures following geopolitical disruptions.
The price hike follows Nayara Energy's earlier adjustments this year when it first raised petrol and diesel prices by ₹5 and ₹3 per litre respectively on March 26, after the US-Iran conflict disrupted energy supplies. The company later reversed that hike on July 1, cutting prices by the same amounts as crude prices eased. The latest increase reflects renewed global crude price pressures, the report said.
The fuel price changes by Nayara Energy come amid a volatile global crude oil market impacted by geopolitical tensions in West Asia. As the largest private fuel retailer operating over 7,000 outlets nationwide, Nayara's pricing decisions influence retail fuel costs across India. The March hike was the first price increase by a fuel retailer since the conflict began, and the July reduction was the first cut in over two years.
Nayara Energy’s latest price adjustment underscores the continuing impact of international crude price fluctuations on domestic fuel costs. The company’s network of more than 7,000 fuel stations positions it as a key player in India’s fuel retail sector, with its pricing moves closely watched by consumers and competitors alike.