- Nayara and MRPL raise prices by over INR 2,000/t
- Higher import costs support domestic refinery pricing
India’s domestic petcoke market strengthened sharply in October, with Nayara Energy and MRPL raising prices by INR 2,180/t and INR 2,000/t, respectively. Nayara’s price reached INR 20,960/t, while MRPL’s rake and road prices increased to INR 17,370/t and INR 19,300/t. The hikes followed stronger global high-CV fuel markets, with imported petcoke replacement costs also rising.
Nayara raises price by 11.6%
Nayara Energy increased its petcoke price by INR 2,180/t to INR 20,960/t, effective 1 October 2026, from INR 18,780/t in September. The increase followed a INR 690/t rise in September and represented an 11.6% m-o-m increase.
The October price was also 41% higher y-o-y than INR 14,870/t recorded in October 2025. The latest increase reversed the price reductions seen during June and July and represented the sharpest monthly rise in the supplied data.
The increase came as global high-CV fuel markets strengthened towards the end of September, raising replacement costs for Indian consumers. US-origin high-sulphur petcoke indications were reported at around $174-175/t CFR west coast India, while replacement indications had moved towards $180/t.
MRPL follows with sharp increase
MRPL also raised its petcoke prices by INR 2,000/t effective 1 October. The rake price increased to INR 17,370/t from INR 15,370/t in September, including INR 70/t of tarpaulin charges, while the road price increased to INR 19,300/t from INR 17,300/t.
The increase represented a 13% m-o-m rise. MRPL’s October rake price was also 46.7% higher y-o-y than INR 11,840/t in the same month last year.
The latest increase was slightly lower than Nayara’s INR 2,180/t hike, although both refiners had raised prices by broadly similar amounts in September, when MRPL increased its price by INR 680/t against Nayara’s INR 690/t.
MRPL’s refinery, which had been under maintenance shutdown since mid-August, reportedly resumed operations in mid-September, which could improve petcoke availability.
The differential between MRPL’s rake and road prices remained at INR 2,000/t from April 2026 onwards, compared with INR 1,500/t previously. This excludes the INR 70/t tarpaulin charge on rake supplies. The majority of MRPL’s petcoke supply continued to move by rail.
Import costs keep market firm
The domestic price increases coincided with higher international petcoke replacement costs. USGC 6.5% sulphur petcoke had strengthened sharply during September, while freight also remained elevated.
The higher import costs made buyers more cautious about fresh overseas purchases and increased the relative importance of domestic refinery-linked supply. Cement producers continued to compare imported petcoke with domestic petcoke and alternative fuels based on delivered economics.
MRPL’s October rake price remained INR 3,590/t below Nayara’s price, compared with a INR 3,410/t gap in September. MRPL’s road price was INR 1,660/t below Nayara, representing an 8% discount.
Over the trailing 12-month period, MRPL’s average price remained around 20.7% below Nayara Energy’s average, despite the latest sharp increase.
October pricing reaches multi-year highs
The latest increases took refinery-linked domestic petcoke prices to elevated levels. MRPL’s October price represented its highest level in FY 2026-27, while Nayara’s INR 20,960/t remained close to the higher levels seen earlier in 2026.
The latest movement reflected a combination of stronger international prices, higher freight and marine replacement costs and firm domestic fuel economics.
With both Nayara and MRPL increasing prices sharply in October, Indian petcoke consumers faced significantly higher domestic procurement costs. Elevated import replacement costs were also expected to keep buyers cautious and encourage closer comparison between domestic petcoke, imported coal and other fuel options.
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