Nayara Energy raised petrol by Rs 5 per litre and diesel by Rs 3, becoming one of India’s first fuel retailers to pass on crude price hikes amid Middle East tensions. State-owned firms have kept prices unchanged since April 2022
US sanctions on Russia's Rosneft and Lukoil may impact Reliance Industries’ direct oil imports. State-owned refiners are likely to continue buying through intermediary traders. EU restrictions on fuel exports will further affect Indian firms, prompting recalibration from January 2026
Rosneft owns 49.13 per cent stake in Nayara Energy Ltd, formerly Essar Oil Ltd. EU sanctions means Nayara cannot export fuel such as petrol and diesel to European countries
