New Delhi: In a move that could impact consumers nationwide, Nayara Energy has announced a sharp hike in fuel prices, increasing petrol by ₹5.30 per litre and diesel by ₹3 per litre.
The company—backed by Russian oil major Rosneft—is one of India’s largest private fuel retailers. The price hike comes at a time when public sector oil companies and other private players have largely kept fuel prices unchanged, making Nayara’s decision stand out.
The increase is linked to rising global crude oil prices amid geopolitical tensions involving Iran and the United States. While domestic fuel prices had remained stable despite global volatility, Nayara’s move signals mounting pressure in the energy market.
Earlier this month, the company had also raised prices of premium petrol by ₹2 per litre and industrial diesel by a steep ₹22 per litre, with revised rates coming into effect from March 20.
Adding to concerns, reports indicate that Nayara Energy is planning a 35-day shutdown of its refinery in Vadinar starting early April for maintenance. The refinery, with an annual capacity of 20 million tonnes, plays a key role in supplying fuel to both Nayara outlets and public sector companies. The temporary closure could reduce India’s refining capacity by nearly 8%, potentially tightening fuel supply in the coming weeks.
