Petrol-Diesel Price Hike: Petrol and diesel prices in India have risen once again. These rates are showing a continuous upward trend. Petrol and diesel are essential commodities; without them, daily life and operations would be severely disrupted. Amidst this scenario, fuel retailer Nayara Energy has significantly raised its petrol and diesel prices. The company has increased the price of petrol by ₹5 per litre and diesel by ₹3 per litre, which will significantly affect consumers.
This price adjustment follows the rise in international prices of crude oil and refined products. However, there is some relief in the fact that other state-owned oil marketing companies have not raised their petrol and diesel prices.
It is worth noting that Nayara Energy operates 7,108 petrol pumps across the country. The company also runs a refinery in Vadinar, Gujarat, with an annual capacity of approximately 20 million tonnes.
New Prices Effective from Saturday
The new rates came into effect across all 7,108 Nayara fuel stations in India starting from the morning of Saturday, October 3. This latest hike comes as high global energy prices renew pressure on fuel retailers.
The company had raised prices in March as well.
Earlier, on March 26, Nayara had increased petrol prices by ₹5 per litre and diesel prices by ₹3 per litre. At that time, the price of petrol at the company’s pumps had risen to ₹100.71 per litre and diesel to ₹91.31 per litre. Nayara subsequently rolled back the March hike.
On July 1, following a softening of international crude oil prices as tensions in West Asia eased, the company had reduced petrol prices by ₹5 per litre and diesel prices by ₹3 per litre. State-owned companies raised petrol and diesel prices slightly on several occasions, bringing the total increase to approximately ₹7.50 per litre by the end of May. In the fourth hike on May 25, the company raised the price of petrol by ₹2.61 per litre and that of diesel by ₹2.71 per litre.