Nayara increases petrol prices by Rs 5/litre and diesel by Rs 3/litre

Private fuel retailer Nayara Energy on Thursday raised petrol prices by Rs 5 a liter and diesel by Rs 3 a liter, in line with a surge in global oil prices due to the war in West Asia.Nayara, controlled by Rosneft, operates nearly 7,000 gas stations out of more than 100,000 across the country, mainly on national highways and urban centers. However, Jio-bp, another private retailer, has not increased prices so far. Unlike state-owned enterprises, private fuel retailers do not receive government compensation to offset losses from curbing price increases, officials said.