Reliance and Nayara Ration Fuel Amid Rising Crude Costs

Reliance Industries Ltd. and Nayara Energy Ltd. have implemented rationing for diesel and gasoline sales across their retail networks in India. The private fuel retailers are limiting sales to mitigate financial losses as crude oil costs have climbed to approximately $108 a barrel.

Retail pump prices have remained stagnant since May, creating a gap between procurement costs and sales revenue. While private refiners in India possess the legal authority to set their own prices, they typically align their rates with state-owned companies that coordinate pricing changes with the federal government.