Reliance, Nayara restrict fuel sales as crude hits $107 and retail prices stay frozen: Report
Reliance Industries and Nayara Energy have begun restricting diesel and petrol sales at some outlets as crude prices surge while domestic pump prices remain unchanged. The curbs are aimed at managing rising demand, preventing bulk hoarding and limiting losses for private fuel retailers.
- Sep 29, 2026,
- Updated Sep 29, 2026 3:43 PM IST
Private fuel retailers Reliance Industries Limited (RIL) and Nayara Energy have started restricting diesel and gasoline sales at some outlets as surging crude prices and unchanged retail fuel prices squeeze margins. The measures are aimed at ensuring fuel availability and preventing bulk buyers from hoarding supplies, Bloomberg News reported on Tuesday (September 29, 2026).
Fuel prices at retail outlets have remained unchanged since May even as global crude prices have climbed to around $107 a barrel. While refiners are officially free to set pump prices, state-owned fuel companies typically adjust prices in consultation with the government, and private retailers generally follow the same pricing trend.
Nayara, Reliance BP restrict sales
Nayara Energy, which is backed by Russia’s Rosneft, has capped diesel purchases at 200 litres and gasoline purchases at 30 litres at its fuel stations, according to people familiar with the matter cited by Bloomberg News.
Reliance BP Mobility, the joint venture between Reliance Industries and BP, has also restricted diesel sales at some outlets.
Reliance BP said the measures were being taken in response to prevailing demand conditions to ensure equitable availability of fuel, particularly amid increased demand from industrial and other non-transport users.
Nayara said it continues to maintain fuel supplies across its nationwide dealer network and ensure access for customers.
MUST WATCH: Crude Oil Shock Hits Markets: Why India’s Rupee & Emerging Markets Face Pressure
Global supply disruptions push fuel prices higher
Global gasoline and diesel prices have risen sharply as supply disruptions linked to the West Asia conflict and the Russia-Ukraine war affect production and trade.
The situation has also increased the incentive for Indian refiners to export fuel rather than sell it domestically at lower prices. Russia has banned diesel exports and could extend those restrictions beyond September, while the US is also considering restrictions on outbound fuel shipments, according to the Bloomberg report.
Private retailers were already selling fuel below cost. ICRA estimated that retailers were losing around ₹5 per litre on gasoline and ₹23 per litre on diesel as of September 9. With crude prices rising further since then, those losses are likely to have widened.
Reliance BP had introduced similar restrictions in April during the early phase of the conflict, when crude flows through the Strait of Hormuz were severely disrupted.
Bulk buying adds to supply pressure
The latest restrictions are primarily intended to prevent bulk consumers from accumulating fuel, according to people familiar with the matter. Some outlets have reportedly seen buyers filling drums and subsequently reselling fuel to bulk customers at higher prices.
The restrictions could, however, push more consumers towards state-owned fuel stations. Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation together account for around 90% of India’s retail fuel sales, making them the primary alternative for customers affected by private-sector restrictions.
State refiners are also facing significant losses because pump prices have remained unchanged. Oil Minister Hardeep Singh Puri said state-owned refiners were losing around ₹5.3 billion, or ₹530 crore, a day by selling fuel below cost.
The impact is already being felt by transport operators. Some truckers have reported having to make more frequent refuelling stops as private fuel stations reduce the quantity of diesel available per vehicle.
DO READ: BPCL, HPCL, IOC, ONGC, Adani Power: Morgan Stanley positive on oil stocks, flags 3 surprises
Private fuel retailers Reliance Industries Limited (RIL) and Nayara Energy have started restricting diesel and gasoline sales at some outlets as surging crude prices and unchanged retail fuel prices squeeze margins. The measures are aimed at ensuring fuel availability and preventing bulk buyers from hoarding supplies, Bloomberg News reported on Tuesday (September 29, 2026).
Fuel prices at retail outlets have remained unchanged since May even as global crude prices have climbed to around $107 a barrel. While refiners are officially free to set pump prices, state-owned fuel companies typically adjust prices in consultation with the government, and private retailers generally follow the same pricing trend.
Nayara, Reliance BP restrict sales
Nayara Energy, which is backed by Russia’s Rosneft, has capped diesel purchases at 200 litres and gasoline purchases at 30 litres at its fuel stations, according to people familiar with the matter cited by Bloomberg News.
Reliance BP Mobility, the joint venture between Reliance Industries and BP, has also restricted diesel sales at some outlets.
Reliance BP said the measures were being taken in response to prevailing demand conditions to ensure equitable availability of fuel, particularly amid increased demand from industrial and other non-transport users.
Nayara said it continues to maintain fuel supplies across its nationwide dealer network and ensure access for customers.
MUST WATCH: Crude Oil Shock Hits Markets: Why India’s Rupee & Emerging Markets Face Pressure
Global supply disruptions push fuel prices higher
Global gasoline and diesel prices have risen sharply as supply disruptions linked to the West Asia conflict and the Russia-Ukraine war affect production and trade.
The situation has also increased the incentive for Indian refiners to export fuel rather than sell it domestically at lower prices. Russia has banned diesel exports and could extend those restrictions beyond September, while the US is also considering restrictions on outbound fuel shipments, according to the Bloomberg report.
Private retailers were already selling fuel below cost. ICRA estimated that retailers were losing around ₹5 per litre on gasoline and ₹23 per litre on diesel as of September 9. With crude prices rising further since then, those losses are likely to have widened.
Reliance BP had introduced similar restrictions in April during the early phase of the conflict, when crude flows through the Strait of Hormuz were severely disrupted.
Bulk buying adds to supply pressure
The latest restrictions are primarily intended to prevent bulk consumers from accumulating fuel, according to people familiar with the matter. Some outlets have reportedly seen buyers filling drums and subsequently reselling fuel to bulk customers at higher prices.
The restrictions could, however, push more consumers towards state-owned fuel stations. Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation together account for around 90% of India’s retail fuel sales, making them the primary alternative for customers affected by private-sector restrictions.
State refiners are also facing significant losses because pump prices have remained unchanged. Oil Minister Hardeep Singh Puri said state-owned refiners were losing around ₹5.3 billion, or ₹530 crore, a day by selling fuel below cost.
The impact is already being felt by transport operators. Some truckers have reported having to make more frequent refuelling stops as private fuel stations reduce the quantity of diesel available per vehicle.
DO READ: BPCL, HPCL, IOC, ONGC, Adani Power: Morgan Stanley positive on oil stocks, flags 3 surprises