Nayara Energy Hikes Fuel Prices Amid Ongoing US-Iran War

Nayara Energy, India's largest private fuel retailer, has increased fuel prices in the country by ₹5 per litre for petrol and ₹3 per litre for diesel with immediate effect. This move comes as a result of higher global energy prices due to the ongoing US-Iran war, which has disrupted energy supplies.

This is not the first time Nayara Energy has passed on the impact of higher international oil prices to consumers. In March, the company raised petrol and diesel prices by ₹5 and ₹3 per litre respectively, but later reversed the price hike after global crude prices eased.

State-owned fuel retailers, such as Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation, have historically kept prices relatively stable despite fluctuations in global crude prices. However, they began transferring the impact of higher international oil prices to consumers in May, raising petrol and diesel prices through a series of staggered increases.

The Centre has asked private fuel retailers not to limit petrol and diesel sales at their outlets amid losses on retail fuel sales. Nayara Energy operates over 7,000 fuel stations across the country.