New Delhi, March 27 -- Private refiner Nayara Energy raised petrol prices by Rs.5 a litre and diesel by Rs.3 a litre on Thursday - becoming the first oil marketing company to revise auto fuel rates since the West Asia conflict began - while the petroleum ministry moved on the same day to refute claims circulating on social media that India had only six days of fuel stocks remaining, asserting the country has approximately two months of supply secured.

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 Thursda...