Petrol Diesel Price Hike: Petrol and diesel prices have increased at Nayara Energy pumps just ahead of the festive season. The company has raised the price of petrol by ₹5 per litre and diesel by ₹3 per litre, once again bringing attention to the possibility of similar moves by public sector oil marketing companies such as IOC, HPCL and BPCL.
The latest increase comes at a time when the cost of crude oil imported by Indian refiners has climbed sharply. In September, the average price of imported crude stood at $116.09 per barrel, the highest monthly level mentioned since the West Asia war.
Nayara Energy operates around 7,108 petrol pumps across India, making it the country’s largest private-sector fuel retail network. The company is jointly owned by Russia’s state oil major Rosneft and an international consortium that includes Kesani Enterprises Co Ltd and United Capital Partners. Both sides hold a 49.13% stake in the company.
Nayara Energy Had Raised Fuel Prices Earlier This Year
The latest increase is not the first petrol and diesel price hike by Nayara Energy this year. On March 26, the company had increased petrol prices by ₹5 per litre and diesel prices by ₹3 per litre.
Following that revision, petrol at Nayara pumps was priced at ₹100.71 per litre, while diesel reached ₹91.31 per litre. However, the company later rolled back the increase as international crude oil prices eased.
On July 1, Nayara Energy reduced petrol prices by ₹5 per litre and diesel prices by ₹3 per litre.
Imported Crude Prices Surge in September
The latest fuel price increase has come as India’s crude oil import costs have risen significantly. According to data from the Petroleum Planning & Analysis Cell (PPAC), the average price of crude imported by Indian refiners in September reached $116.09 per barrel.
The monthly averages mentioned in the data were:
- March 2026: $111.39 per barrel
- April: $114.48 per barrel
- May: $106.23 per barrel
- June: $83.22 per barrel
- July: $82.04 per barrel
- August: $90.19 per barrel
- September: $116.09 per barrel
The September average was therefore substantially higher than the levels recorded during the preceding months.
Will IOC, HPCL and BPCL Also Increase Prices?
The key question now is whether public sector oil marketing companies will also raise petrol and diesel prices. Any such increase during the festive season could put additional pressure on household budgets.
Retail inflation has already been rising, while expert agencies have been predicting a possible increase in the RBI’s repo rate during the Monetary Policy Committee meeting this week. Consumer prices have also moved higher ahead of the festive period.
A further increase in petrol and diesel prices could add to costs across various sectors and potentially lead to another round of price increases for goods and services.
However, the government is also likely to consider the financial impact on oil marketing companies. If higher crude prices result in significant under-recoveries and begin affecting the companies’ finances, raising retail prices of petrol, diesel and aviation fuel could be considered.
Even so, an increase in retail fuel prices is expected to remain a last resort. So far, there have been four rounds of petrol and diesel price increases in India since the end of February.
Disclaimer: This article is based on the information and data provided, including crude oil price figures attributed to the Petroleum Planning & Analysis Cell. Fuel prices can change based on company decisions, crude oil prices and other market factors. Readers should check the latest official fuel prices and announcements from the concerned oil marketing companies before making financial decisions.