Nayara Energy Slashes Petrol, Diesel Prices

In a major relief for consumers, Nayara Energy has announced a significant reduction in fuel prices, cutting petrol by ₹5 per litre and diesel by ₹3 per litre across its retail outlets. The revised rates came into effect from July 1 at nearly 7,000 fuel stations operated by the company across India.

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The price cut follows a decline in global crude oil prices after tensions in the Middle East began to ease. Crude prices had surged over the past few months due to the conflict involving the United States and Iran, disrupting fuel supplies and pushing up international oil prices. With the situation gradually stabilising, crude oil rates have softened, allowing Nayara Energy to pass on the benefit to customers.

First Major Fuel Price Cut in Two Years

According to reports, this is the first retail fuel price reduction by any oil marketing company in nearly two years, making Nayara Energy the first to revise rates downward amid improving global market conditions.

PSU Oil Companies Keep Prices Unchanged

While Nayara Energy has reduced fuel prices, state-owned oil marketing companies including Indian Oil Corporation (IOC), Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL) have not announced any change in petrol or diesel prices. Retail fuel rates at these companies continue to remain unchanged.

Prices May Differ Across States

Consumers should note that the final retail price of petrol and diesel may vary from one state to another due to differences in Value Added Tax (VAT) and other local levies imposed by state governments.