Private fuel retailer Nayara Energy on Thursday raised petrol prices by Rs 5 per litre and diesel by Rs 3 per litre, in line with a surge in global oil prices due to the war in West Asia.Nayara, majority-owned by Russia’s Rosneft, operates nearly 7,000 of the more than 1 lakh filling stations, mainly on national highways and in urban centres, across the country.
Jio-bp, another private retailer, however, has not raised prices so far. Officials said private fuel retailers, unlike state-owned firms, receive no govt compensation to offset losses from holding back price increases.
