Nayara Energy slashed petrol prices by ₹5 per litre and diesel by ₹3 per litre,effective Wednesday,July 1, 2026. First price cut by any Indian fuel retailer in over two years. Global crude oil prices dropped as West Asia tensions eased.
Price change linked to reopening of crucial maritime route. This eased fears of supply disruptions. Nayara's new rates cover over 7,000 fuel stations nationwide,but local taxes like VAT may affect final prices.
Public sector retailers like Indian Oil Corporation (IOC),Bharat Petroleum (BPCL),and Hindustan Petroleum (HPCL) holding firm on prices. In Delhi, petrol stays at ₹102.12 per litre,diesel at ₹95.20 per litre at IOC stations.
Nayara had bumped up prices in March. Petrol by ₹5, diesel by ₹3 per litre, due to Iran conflict oil price spike. State-run retailers followed suit,jacking up prices by ₹7.50 per litre in late May, reflecting crude costs.
Now,Nayara's cut reverses its earlier hike . Could mean lower fuel costs for consumers as global oil markets calm. Sources say Nayara ready to meet demand post-refinery turnaround,keeping network strong for country's needs.
Nayara runs major refinery in Vadinar, Gujarat, with 20 million tonnes annual capacity. As market shifts with new prices, Petroleum Ministry says future price decisions hinge on global situation…
