Amid Middle East tensions, shocking news has emerged. Nayara Energy has increased petrol and diesel prices. Petrol prices have been increased by ₹5.30 per liter and diesel by ₹3 per liter.

increased price of petrol

Petrol & Diesel Price Hike: Amidst heightened tensions in the Middle East, shocking news has emerged. Nayara Energy, the country's largest private fuel retailer, announced a price hike on petrol and diesel on Thursday. The company has increased the price of petrol by ₹5.30 per liter and diesel by ₹3 per liter, which is expected to further increase the pressure of inflation on the common man.

City-wise petrol prices are as follows: Rs 107.46 per liter in Hyderabad, Rs 105.41 in Kolkata, Rs 103.54 in Mumbai, Rs 102.92 in Bengaluru, Rs 101.19 in Bhubaneswar, Rs 100.80 in Chennai, Rs 95.16 in Noida, and Rs 95.57 per liter in Gurugram.

Talking about diesel prices, it is being sold at Rs 95.70 per liter in Hyderabad, Rs 92.77 in Bhubaneswar, Rs 92.39 in Chennai, Rs 92.02 in Kolkata, Rs 90.99 in Bengaluru, Rs 90.03 in Mumbai, Rs 88.31 in Noida, and Rs 88.03 per liter in Gurugram.

Nayara Energy has over 6,500 petrol pumps (retail outlets) across the country. It is the second-largest private sector oil refinery and retail network company in India.

Has the risk of inflation increased?

This increase in the prices of petrol and diesel by Nayara Energy amid the Iran war has come at a time when earlier, state-owned oil companies from Indian Oil Corporation (IOC) to Bharat Petroleum have increased the prices of premium petrol.

Industrial diesel rates have also been increased, which is expected to further increase cost pressures on industry. Following the price hike, petrol reached ₹107.46 per liter in Hyderabad on Thursday, while in cities like Mumbai and Kolkata, petrol is now selling above ₹100. The closure of the Strait of Hormuz due to the Iran War has deepened the energy crisis facing many countries, including India.

There is also a shortage of LPG.

Amid reports of fuel shortages, people are seen standing in long queues at petrol pumps in many cities across the country. Meanwhile, due to the LPG shortage, commercial gas supplies have been cut, causing hardship for those in this sector as well, and long lines are being seen.

Tehran, which has rejected the US peace proposal, has allowed India, Pakistan, and three other countries to pass through the Strait of Hormuz. It is believed that this exemption could provide some relief to India in its energy crisis and help partially stabilize the supply system.