Fuel price relief: Nayara Energy announces ₹5 petrol, ₹3 diesel cut across India
India’s largest private fuel retailer, Nayara Energy, has reduced petrol prices by ₹5 per litre and diesel prices by ₹3 per litre across its nationwide network, following a decline in global crude oil prices, according to industry sources.
The price reduction is the first major retail fuel cut by any company in more than two years and comes as tensions in West Asia, including the US-Iran conflict, have eased.
The revised fuel rates are now effective at more than 7,000 Nayara fuel stations across India, PTI reported, citing industry sources. However, the final price paid by consumers may differ from state to state due to variations in local taxes and VAT.
Public sector oil marketing companies — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) — have not announced any changes and continue to sell fuel at existing rates. These state-run companies control more than 90% of India’s fuel stations.
Nayara had earlier moved in the opposite direction during the peak of the US-Iran tensions in March, becoming the first fuel retailer to raise petrol prices by ₹5.30 per litre and diesel prices by ₹3 per litre amid concerns over global supply disruptions.
The increase came as oil markets were affected by uncertainty around supplies, including disruptions linked to the Strait of Hormuz, a key global energy route.
Nayara Energy, majority-owned by Russia’s Rosneft, operates a 20 million tonne-per-year refinery at Vadinar in Gujarat. The company is reportedly prepared to meet domestic fuel demand after completing refinery maintenance, PTI reported.
Among major cities, Hyderabad remained the most expensive market for fuel, with petrol priced at ₹115.69 per litre and diesel at ₹103.82 per litre.
Petrol prices in major cities
| City | Petrol price (₹/litre) |
|---|---|
| Delhi | 102.12 |
| Hyderabad | 115.69 |
| Kolkata | 113.51 |
| Mumbai | 111.21 |
| Chennai | 107.76 |
| Gurugram | 102.97 |
| Bengaluru | 111.68 |
| Bhubaneswar | 108.97 |
| Chandigarh | 101.54 |
Diesel prices in major cities
| City | Diesel price (₹/litre) |
|---|---|
| Delhi | 95.20 |
| Hyderabad | 103.82 |
| Kolkata | 99.82 |
| Mumbai | 97.83 |
| Chennai | 99.55 |
| Gurugram | 95.64 |
| Bengaluru | 99.56 |
| Bhubaneswar | 100.68 |
| Chandigarh | 89.47 |
India lifts fuel restrictions from July 1
The Centre has also withdrawn temporary restrictions on bulk fuel sales from July 1, allowing state-run oil companies to resume selling auto fuels freely to bulk consumers.
The restrictions were introduced on June 12 after global energy markets faced disruption linked to tensions around the Strait of Hormuz. The measures included a limit of 200 litres of diesel per vehicle per day to prevent shortages and prioritise retail consumers.
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