Reliance Industries Limited is in focus after plans emerged for a temporary shutdown of one of its crude processing units, even as the government maintained that domestic fuel prices will remain unchanged despite global oil market disruptions.
As per news reports, according to Joint Secy Sujata Sharma inter-minsterial, Reliance Industries will shut down its crude unit for maintenance activities after Nayara Energy resumes operations. Nayara is expected to restart operations by middle of May.
The maintenance shutdown at Reliance is expected to continue for 3-4 weeks. Despite the operational development, the government clarified that there will be no increase in petrol and diesel prices at retail fuel stations.
Domestic LPG prices will also remain unchanged.However, prices of commercial LPG cylinders have been increased.
The developments come at a time when global crude oil markets have been witnessing sharp volatility due to geopolitical tensions linked to the ongoing US-Iran-Israel conflict.
Brent crude prices surged to as high as $126 per barrel on April 30 following blockade-like conditions around the Strait of Hormuz.
The disruption in the region restricted the movement of oil tankers, triggering concerns around global supply shortages of crude oil and petroleum products.
The International Energy Agency described the situation as “the largest supply disruption in history.”
Read More: India’s Fuel Retail Sector Faces Mounting Credit Strain Amid Crude Price Surge, Says Fitch!
As of 07 May 2026, at 9:25 AM, Reliance Industries Limited share price closed at ₹1,432.40 per share, reflecting a decline of 0.38% from the previous closing price.
The planned maintenance shutdown at Reliance, combined with ongoing geopolitical developments in the crude market, has kept the energy sector in focus, while the government continues to maintain stability in retail fuel prices despite global volatility.
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Published on: May 7, 2026, 10:21 AM IST
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