New Delhi: Nayara Energy, a private fuel retailer, increased petrol prices by Rs 5 per litre and diesel by Rs 3 per litre across its nationwide network effective Saturday amid rising global crude and fuel prices.
The move affects more than 7,000 Nayara fuel stations and aims to reduce the gap between retail prices and higher procurement costs triggered by sustained international energy price hikes.
This is the second increase by Nayara this year after a similar revision in March that was rolled back in July following easing crude prices.
State-owned fuel retailers, which operate over 90% of India's roughly 104,000 petrol pumps, have mostly kept retail prices stable despite global market fluctuations.
The government recently urged private fuel sellers not to restrict petrol and diesel sales as prices rose worldwide.
Alongside fuel increases, state-owned oil companies raised commercial LPG prices by Rs 62.50 per 19-kg cylinder from October, although domestic LPG rates remain at Rs 942.
Aviation turbine fuel prices also surged by Rs 16 per litre, pushing ATF for domestic airlines from Rs 121 to Rs 137 per litre.
The recent petrol and diesel hikes come after increases of Rs 5 per litre in August and Rs 6.28 per litre in September, reflecting ongoing cost pressures.
Commercial LPG rates have been volatile, climbing by Rs 1,373 per 19-kg cylinder between February and June before falling mid-year and rising again recently.
