Private refiner Nayara hikes petrol, diesel prices

The developments came as the West Asia conflict has lasted nearly four weeks, a period in which there has been mounting stress on global energy supplies, prompting anxiety among consumers in some parts of the country.

Panic buying broke out across several states for a second day on Thursday. In Gujarat, fuel sales rose four to five times since Monday, the state government said, with long queues reported at filling stations in Ahmedabad, Rajkot, Surat and Gandhinagar. Serpentine queues were also seen in Kashmir, parts of Karnataka, Uttar Pradesh and Goa – where officials and ministers issued reiterated that there was no shortage.

Nayara, which operates approximately 7,000 petrol pumps and is the country’s largest private fuel retailer, said its network “continues to operate normally, with no interruptions in service.”