Nayara Energy raises petrol price by Rs 5, diesel by Rs 3 nationwide

New Delhi: Private fuel retailer Nayara Energy has raised petrol prices by Rs 5 per litre and diesel prices by Rs 3 per litre across its nationwide network, effective Saturday, amid rising global crude oil and refined fuel prices, industry sources said.

The revised rates have been implemented at more than 7,000 Nayara fuel stations as the company seeks to narrow the gap between retail prices and higher procurement costs amid sustained pressure from international energy markets.

This is Nayara Energy’s second fuel price increase this year. In March, the company had similarly raised petrol and diesel prices by Rs 5 and Rs 3 per litre, respectively, following supply disruptions linked to tensions in West Asia. The increase was rolled back in July after crude oil prices eased.

The latest revision comes 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 fluctuations in global crude prices.

Earlier this week, the government also said private fuel retailers should not restrict the sale of petrol and diesel.

Meanwhile, state-owned oil marketing companies have increased commercial liquefied petroleum gas (LPG) prices by Rs 62.50 per 19-kg cylinder from October. Domestic LPG prices, however, have been kept unchanged at Rs 942 per cylinder.

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Aviation turbine fuel (ATF) prices have also risen by Rs 16 per litre, taking the rate for domestic airlines from Rs 121 to Rs 137 per litre. This follows increases of Rs 6.28 per litre, or 5.46 per cent, in September and Rs 5 per litre in August.

Commercial LPG prices had increased by Rs 62.50 per 19-kg cylinder after a Rs 9.50 hike in September. This followed sharp reductions of Rs 192 in August and Rs 183.50 in July.

Between February and June, commercial LPG prices had climbed by Rs 1,373 per 19-kg cylinder, from Rs 1,740.50 to Rs 3,113.50, before declining in July and August.

With IANS inputs