In a significant move, Nayara Energy, one of India’s largest private fuel retailers, has raised petrol and diesel prices across its nationwide network. The increase varies by location due to differences in state taxes, but in some areas petrol prices have surged by as much as ₹5.30 per litre, while diesel has gone up by approximately ₹3 per litre.
The decision is largely driven by global factors, including disruptions in crude oil supply caused by escalating tensions in the Middle East. Key shipping routes like the Strait of Hormuz have been affected, leading to higher input costs for fuel companies.
As a private player, Nayara Energy does not receive government support to absorb losses, unlike state-run oil companies. This has forced the company to pass on part of the increased costs to consumers.
Fuel prices now exceed ₹100 per litre in several major cities such as Hyderabad, Mumbai, and Kolkata, while diesel rates have also risen significantly, impacting transportation and overall cost of living.