Nayara Energy Hikes Petrol and Diesel Prices: Petrol Up by Rs 5, Diesel by Rs 3
- Nayara Energy, India's largest private fuel retailer, increased the price of petrol by ₹5 per litre and diesel by ₹3 per litre across its network of 6,967 petrol...
- The company, which is majority-owned by the Russian oil giant Rosneft, implemented the hike to pass on a portion of rising input costs to consumers.
- The price increase follows a nearly 50 per cent surge in international oil prices since February 28, 2026.
Nayara Energy, India’s largest private fuel retailer, increased the price of petrol by ₹5 per litre and diesel by ₹3 per litre across its network of 6,967 petrol pumps on March 26, 2026.
The company, which is majority-owned by the Russian oil giant Rosneft, implemented the hike to pass on a portion of rising input costs to consumers. The price adjustment varies by state due to local levies such as Value Added Tax (VAT), with petrol prices increasing by as much as ₹5.30 per litre in certain regions.
Impact of West Asia Conflict
The price increase follows a nearly 50 per cent surge in international oil prices since February 28, 2026. This volatility was triggered by military strikes against Iranian facilities by the United States and Israel, which led to sweeping retaliation from Tehran.
International crude prices briefly touched USD 119 per barrel during the intensifying crisis in West Asia. Nayara Energy addressed the market conditions in a statement:
the ongoing disruption in crude oil supplies has created unprecedented challenges in the industry, impacting several aspects of fuel distribution and availability.
Nayara Energy
Market Divergence and Compensation
The decision by Nayara Energy marks a break from the long-standing price freeze on normal-grade petrol and diesel in India. Private fuel retailers operate without the government compensation buffers provided to state-run firms to offset losses when import costs rise.
State-owned oil marketing companies, which dominate roughly 90 per cent of the Indian market, have maintained a price freeze on standard fuels since April 2022.
Other private players have taken a different approach. Jio-bp, a joint venture between Reliance Industries and BP Plc that operates over 2,100 outlets nationwide, has held its petrol and diesel prices steady despite the surge in global oil costs.
Reports indicate that Jio-bp has maintained its current pricing while absorbing significant losses on retail sales.