Nayara Energy raises petrol price by Rs 5, diesel by Rs 3 per litre

Private fuel retailer Nayara Energy has increased petrol prices by Rs 5 per litre and diesel rates by Rs 3 per litre across its nationwide network, with the revised prices taking effect from Saturday, industry sources said.

The increase across Nayara’s more than 7,000 fuel stations comes amid a rise in global crude oil and refined fuel prices, which has put pressure on retail margins.

This is the company’s second fuel price revision of the year. Nayara had earlier raised petrol and diesel prices by similar amounts in March following supply disruptions linked to tensions in West Asia. The company subsequently rolled back that increase in July after crude oil prices eased.

The latest revision comes as state-owned oil marketing companies, which account for more than 90 per cent of India’s over 104,000 petrol pumps, have largely kept retail petrol and diesel prices unchanged despite fluctuations in international crude prices.

Earlier this week, the government also said private fuel retailers should not restrict the sale of petrol and diesel.

Separately, state-owned oil marketing companies increased the price of commercial LPG by Rs 62.50 per 19-kg cylinder from October. Domestic LPG prices, however, remained unchanged at Rs 942 per cylinder.

Aviation turbine fuel (ATF) prices were also raised by Rs 16 per litre in October, taking the rate for domestic airlines to around Rs 137 per litre from Rs 121 per litre.

The latest ATF increase follows a hike of Rs 6.28 per litre, or 5.46 per cent, in September and an increase of Rs 5 per litre in August.

Commercial LPG prices have also seen significant fluctuations this year. After rising by Rs 9.50 per 19-kg cylinder in September, rates were increased by Rs 62.50 in October. This followed cuts of Rs 192 in August and Rs 183.50 in July.

Between February and June, commercial LPG prices had risen by Rs 1,373 per 19-kg cylinder, from Rs 1,740.50 to Rs 3,113.50, before declining in July and August.