Nayara Energy Raises Petrol Price by Rs 5, Diesel by Rs 3 Per Litre

The increase applies across Nayara Energy's more than 7,000 fuel stations and comes as higher international crude oil and refined fuel prices put pressure on the company's retail margins.

This is Nayara Energy's second fuel price increase of the year. The company had similarly raised petrol and diesel prices in March amid supply disruptions linked to tensions in West Asia. Those increases were subsequently rolled back in July after international crude prices moderated.

The latest revision comes even as state-owned oil marketing companies, which operate more than 90 per cent of India's over 104,000 petrol pumps, have largely kept retail petrol and diesel prices unchanged despite movements in global crude markets.

The government had earlier this week urged private fuel retailers not to restrict the sale of petrol and diesel.

The fuel price increase comes alongside recent changes in other energy products. State-owned oil marketing companies raised the price of commercial LPG by Rs 62.50 for a 19-kg cylinder from October, while the price of domestic LPG remained unchanged at Rs 942 per cylinder.

Aviation turbine fuel (ATF) prices were also increased by Rs 16 per litre, taking the rate for domestic airlines to Rs 137 per litre from Rs 121. The latest increase followed a rise 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 moved higher in recent months. The October increase followed a Rs 9.50 hike in September, after prices were reduced by Rs 192 in August and Rs 183.50 in July.

Between February and June, the price of a 19-kg commercial LPG cylinder had risen by Rs 1,373, from Rs 1,740.50 to Rs 3,113.50, before the subsequent reductions in July and August.