Nayara Raises Petrol and Diesel Prices Amid Rising Oil Costs

Nayara Energy has made petrol and diesel more expensive at its fuel stations.

Petrol costs Rs 5 more per litre, and diesel costs Rs 3 more.

The increase began early on Saturday, October 3, and applies across Nayara’s stations in India.

The company said the change helps narrow the gap between what it pays for fuel and what it charges customers.

Nayara made the same increases in March, then reversed them in July when crude oil prices eased.

State-owned fuel companies, which run most of India’s fuel outlets, did not change their prices that Saturday.

Icra estimated that oil companies were losing money on each litre of petrol and diesel in September.

The increase may raise costs for customers, while fuel sellers say rising costs are putting pressure on their business.