Petrol, Diesel Price Hike: Nayara Energy revises fuel prices, check new rates
Petrol, Diesel Price Hike: Nayara Energy, India's largest private fuel retailer, has hiked the price of petrol by Rs 5 per litre and diesel by Rs 3 per litre across its nearly 7,000 outlets. However, depending on the impact of taxes (such as VAT), the actual price increase may vary across different states. In some locations, this hike in petrol prices has reached up to Rs 5.30 per liter.
According to sources, the price adjustment follows a 50 per cent increase in global oil prices triggered by the military conflict between the United States, Israel, and Iran.
Oil marketing companies in India are under pressure because, since February 28 (when the US and Israel launched military strikes against Iran), retail prices for petrol and diesel had remained static—despite an approximately 50% surge in international oil prices during that period.
How many fuel stations does Nayara have in India?
Nayara Energy (which operates 6,967 of India's total 1,02,075 petrol pumps) has decided to pass on a portion of the increased input costs to its customers. Conversely, Reliance Industries and BP PLC have not yet raised prices, despite incurring heavy losses on the sale of petrol and diesel. State-owned fuel retailers, which collectively hold a market share of approximately 90 percent, continue to keep their prices unchanged.
No Compensation for Private Companies
According to sources, private fuel retailers in India receive no compensation from the government to offset losses incurred from raising prices; conversely, state-owned companies receive government support for acting as "good corporate citizens." Sources further added that, due to mounting losses, they were left with no alternative but to raise retail prices.
Hike in Premium Petrol Prices
Amidst the ongoing conflict, disruptions in global energy supplies are being observed. Against this backdrop, oil companies announced on Friday, March 20, 2026, a hike of up to ₹2.35 per liter in the price of premium petrol, effective immediately.