Private fuel retailer Jio-BP, a Reliance Industries subsidiary, hiked petrol prices by Rs 5 per litre and diesel by Rs 3 per litre, amid elevated crude oil prices and supply constraints due to the war crisis in the Middle East. The new rates have come into effect from 6 am on Sunday, October 11, 2026. Earlier, Nayara Energy, which is also a private operator, increased fuel prices for retail customers.
The price hike by two major private retail players means customers stepping into Jio-BP and Nayara Energy stations will have to pay higher prices. However, retail fuel prices remained unchanged at stations of government-owned oil marketing companies.
Petrol, Diesel Price Hiked
- According to a report by Mint, the Rs 5 markup on petrol and Rs 3 addition to diesel have already reshaped local fuel landscapes.
- In Punjab, motorists waking up on Sunday were greeted with petrol soaring to roughly Rs 108.54 per litre, while diesel climbed to Rs 99.19 per litre.
- In Haryana, the petrol price at Jio-BP was around Rs 109.80 per litre and diesel at Rs 97.75 per litre.
Why Are Private Players Hiking Fuel Prices?
For the past few weeks, crude prices have remained over $100 per barrel in the international market, weighing on import bills. The crude prices boiled up amid fresh escalation between Saudi Arabia and the Houthis, on top of choking the Strait of Hormuz.
Earlier, the fuel prices cooled after a ceasefire between the US and Iran. However, it took an elevated path again after the two sides failed to reach consensus. The latest exchange of attacks on oil tankers in the Strait of Hormuz and other sea routes is creating difficulty for oil marketing companies in India.
India imports around 85-90 per cent of its oil needs,d and higher crude rates in the international market have a direct impact on oil marketing companies.
Jio-bp raises prices for the first time this year
This marks the very first time this year that Jio-bp has raised its fuel prices across its vast network of 2,227 stations nationwide. The company, a joint venture between Reliance Industries and British energy giant BP, found its hand forced by escalating tensions in West Asia. As supply disruptions near the strategic Strait of Hormuz sent global crude oil and petroleum prices skyrocketing, fuel margins took a hit—ultimately compelling Jio-bp to pass the burden along to everyday drivers.
No change in prices of government oil companies
On the other side of the road, state-run fuel giants like Indian Oil, Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) have held their ground, leaving regular petrol and diesel prices unchanged. This creates an expanding price gap between public and private stations across the country, making it a wise move for motorists to compare fuel rates in their neighbourhood before pulling up to the pump.
Nayara Energy Fuel Price Hike
Earlier, Nayara Energy hiked the rate with the exact same adjustment—Rs 5 for petrol per litre and Rs 3 more for diesel per litre. Jio- BP mirrors the recent markup made by rival private supplier Nayara Energy.