Amid elevated crude oil prices and severe supply constraints resulting from the war crisis in the Middle East, the private fuel retailer Jio-BP, a subsidiary of Reliance Industries, has raised petrol rates by Rs 5 per litre and diesel rates by Rs 3 per litre, bringing the new rates into effect from 6 am on Sunday, October 11, 2026. This upward revision follows a similar move by another private operator, Nayara Energy, meaning that motorists refueling at Jio-BP and Nayara Energy stations will now incur higher costs, even though retail fuel prices have remained completely unchanged at fuel stations run by government-owned oil marketing companies. International crude prices have hovered above $100 per barrel for the past few weeks, putting enormous pressure on import bills as the crude market boiled up due to fresh escalations between Saudi Arabia and the Houthis on top of the bottlenecks in the Strait of Hormuz. While fuel prices had experienced a temporary cooling off period after a ceasefire agreement between the US and Iran, they surged again when both nations failed to reach a lasting consensus, and subsequent attacks on oil tankers in the Strait of Hormuz and other major sea routes continue to create mounting difficulties for Indian oil marketing companies, which depend on imports for roughly 85-90 per cent of their total oil requirements. This adjustment represents the very first instance this year of Jio-BP raising fuel prices across its extensive nationwide network of 2,227 stations, as a joint venture between Reliance Industries and British energy giant BP that found its hands forced by escalating West Asian tensions and supply chain disruptions near the strategic Strait of Hormuz that squeezed fuel margins and forced the company to transfer the financial burden to everyday drivers. Meanwhile, state-owned fuel retailers such as Indian Oil, BPCL, and HPCL have maintained status quo, keeping regular petrol and diesel prices untouched and thereby widening the price gap between public and state-run outlets versus private stations across the nation, making it highly practical for drivers to check local rates before visiting a fuel station, mirroring the exact price markup previously introduced by rival private supplier Nayara Energy.
Why Did Private Players Hike Fuel Prices? Jio-BP Announces Rs 5 Increase for Petrol and Rs 3 for Diesel
