Diesel boom lifts Reliance and Nayara, leaves state-run OMCs bleeding
Private refiners are cashing in on export margins, while state-run OMCs absorb losses from controlled pump prices and rising domestic demand
Nayara Energy, India's largest private fuel retailer, increased petrol prices by ₹5 per litre and diesel prices by ₹3 as of the start of the week. This move aims to bridge the gap between retail prices and escalating global oil and refined-product costs, according to sources familiar with the matter. The increase follows a series of adjustments by Nayara this year as refiners contend with disturbances in crude and product markets due to geopolitical factors.
The private retailer, which operates 7,108 petrol pumps nationwide, implemented the price hike at the early hours of Saturday. However, an email to Nayara's spokesperson for a comment was not responded to.
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- Nayara Energy hikes petrol by ₹5, diesel by ₹3 thehindubusinessline.com
- Nayara Energy increases petrol price by ₹5 per litre, diesel by ₹3 business-standard.com
