NEW DELHI — India’s largest private fuel retailer, Nayara Energy, has increased domestic retail prices of petrol by ₹5 per litre and diesel by ₹3 per litre with immediate effect. The decision comes as rising crude oil prices in global markets severely pressure marketing margins for energy providers across the country.
- Price Adjustment: Petrol hiked by ₹5/litre; Diesel hiked by ₹3/litre.
- Network Scope: Applicable across all 7,108 Nayara Energy fuel outlets nationwide.
- Driver of Revision: Surging international crude prices following ongoing West Asia geopolitical tensions.
- Historical Trend: Nayara previously raised prices by similar margins in March before reducing them in July when global crude costs eased.
Benchmark Public Sector Retail Prices (Thiruvananthapuram)
While Nayara Energy has adjusted its private station rates, public sector oil marketing companies (OMCs) continue to maintain their existing retail prices. In Thiruvananthapuram (IOCL outlets), current rates stand at:
- Petrol: ₹115.49 / litre
- Diesel: ₹104.40 / litre
State OMC Losses Mount Amid Global Volatility
The price revision by Nayara underscores a broader margin crisis across India’s fuel retailing sector. State-run entities—Indian Oil Corporation (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL)—control roughly 90% of the nation’s 104,000 retail stations.
According to credit rating agency ICRA, public sector fuel retailers face significant under-recoveries:
| Fuel Type | Estimated Loss per Litre |
| Petrol | ₹8.00 / litre |
| Diesel | ₹9.00 / litre |
ICRA reports that state OMCs are absorbing a combined daily loss of ₹530 crore across petrol, diesel, and LPG sales due to unchanged domestic prices during periods of elevated crude. Industry analysts are closely watching whether public sector retailers will follow Nayara’s lead with a similar rate correction.
