- Nayara Energy hiked petrol price by Rs 5 per litre.
- Diesel price increased by Rs 3 per litre by the retailer.
- Hike due to US-Iran war and rising international oil costs.
Fuel Price Hike: In a major update for the consumers, the Nayara Energy, country's largest private fuel retailer, on Saturday raised petrol prices by Rs 5 per litre and diesel by Rs 3 amid the ongoing war between the US and Iran. This move has been taken to reduce the gap between retail prices and the rising international cost of oil and refined products, reported news agency PTI, citing the people familiar with the matter.
STORY | Nayara Energy hikes petrol price by Rs 5, diesel by Rs 3
— Press Trust of India (@PTI_News) October 3, 2026
Nayara Energy, India's largest private fuel retailer, has raised petrol prices by Rs 5 per litre and diesel by Rs 3 with immediate effect, seeking to narrow the gap between retail prices and rising international… pic.twitter.com/0qOeidDT3Y
Why Was Price Hiked?
Nayara Energy announced the hike reportedly due to the renewed pressure on the retailers due to the high international prices. The movement of cargo ships has remained disrupted since February, leading to a surge in energy prices across the world, especially the Asian nations. The surge in prices has also put extra pressure on the retailers, propelling them to increase the domestic prices.
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While the retailers got a brief relief after a ceasefire was announced between the two parties; however, the military tensions escalated again within weeks. The latest surge in prices is likely to cause inconvenience to the consumers as Nayara operates a total of 7,108 petrol pumps across the country. The firm has confirmed the revised rates will be charged on an immediate basis from Saturday.
Recent Hike In Prices
Earlier last month, the price of Brent crude has breached the USD 100 per barrel mark for the second time in one and a half months. The crude oil prices rose again due to a renewed conflict in the Middle East, affecting the already damaged supply chain. On September 8, Iran-backed Houthis targeted Saudi Arabia's civilian, economic and energy facilities in four southwestern cities.
The drone and missile attacks caused fires at oil facilities, leading to a temporary halt. The activation of Houthis has put the Red Sea route at risk, which has helped move oil out of the region amid the blocked Strait of Hormuz.