Nayara Energy hikes petrol, diesel prices; netizens anxious if other retailers take cue

Nayara Energy, India’s largest private fuel retailer, has increased petrol prices by ₹5.30 per litre and diesel by ₹3 per litre, the report by Hindustan Times on Thursday said. This comes as the company prepares to temporarily halt operations at its Vadinar refinery in Gujarat, raising concerns about domestic fuel availability.

Petrol and diesel prices spike across major cities

According to the report, Hyderabad recorded one of the highest petrol prices at ₹107.46 per litre, with Mumbai and Kolkata also seeing rates above ₹100 per litre. Diesel prices in Hyderabad touched ₹95.70 per litre. The fuel price rise comes amid global energy tensions following attacks on oil facilities and disruptions near the Strait of Hormuz due to the Iran-US conflict.

Fuel demand has surged, with long queues forming at petrol pumps across several states. The report noted that LPG shortages have added pressure on filling stations, further affecting consumers.

Planned refinery maintenance could tighten supply

Earlier reports indicate that Nayara, backed by Russia’s Rosneft, intends to shut its Vadinar refinery for approximately 35 days starting early April. The refinery, with a 20 million tonnes-per-year capacity, accounts for nearly 8% of India’s refining capability. The shutdown follows postponed maintenance last year, which had been delayed due to European Union sanctions restricting vendor support.

Most of the refinery’s output is sold domestically, with exports reduced since last year. A significant portion of production supplies state-run refiners, while the remainder is distributed through Nayara’s network of around 7,000 outlets. Sources confirmed that the company has sufficient reserves to keep fuel stations adequately supplied during the maintenance period.

Industry experts caution that the current situation is delicate. With crude oil imports down by nearly 20% and LPG supplies “worrisome,” the temporary closure could pressure domestic availability. Global prices of petrol, diesel, and aviation turbine fuel have risen, but retail prices in India had remained static, causing financial strain for both private and state-run refiners.

Worries continue

The government on Wednesday reassured citizens that India has the capacity to refine 26 crore tonnes of crude oil and urged people not to believe rumours or resort to panic buying. Joint Secretary Sujata Sharma said there has been no increase in petrol or diesel rates, despite circulating claims of a price hike.

Premium petrol prices were increased by ₹2.09–₹2.35 per litre from March 20 due to global fuel volatility, but overall fuel prices remain steady.

With the latest development, netizens have questioned why domestic rates rise despite government assurances. They also worry whether other retailers (public, private) will take cue from Nayara’s move.