Nayara Energy reduces petrol prices by ₹5 and diesel by ₹3 per liter amid softening global crude oil prices

July 1, 2026

New Delhi: Passing on the benefits of falling global crude oil prices to its customers, Nayara Energy on Wednesday announced a reduction in petrol prices by ₹5 per liter and diesel prices by ₹3 per liter at its petrol pumps across the country. It becomes the first company to reduce retail fuel prices in more than two years.

The new rates are effective immediately at the company’s more than 7,000 petrol pumps across the country. However, variations in retail prices of petrol and diesel will persist in different states due to VAT and other local taxes.

This relief comes at a time when international crude oil prices have declined following easing tensions in West Asia. Additionally, the reopening of a major maritime trade route has normalized supplies of crude oil and LNG, alleviating concerns about global supply.

Meanwhile, public sector oil marketing companies—Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL)—have not yet made any changes to petrol and diesel prices. These three companies account for over 90% of the country’s more than 100,000 petrol pumps.

The price of petrol at IOC petrol pumps in Delhi remains stable at ₹102.12 per liter and diesel at ₹95.20 per liter.

It is worth noting that on March 26, Nayara Energy had increased the prices of petrol by ₹5 per liter and diesel by ₹3 per liter after the surge in international crude oil prices due to the Iran conflict.

Subsequently, in the second half of May, state-owned oil companies also gradually increased petrol and diesel prices by a total of ₹7.50 per liter, citing rising international crude oil prices and fuel production costs.

Wednesday’s price cut represents a complete rollback of Nayara Energy’s March price hike and the first major relief to Indian consumers since the global oil market stabilized in recent weeks.

According to industry sources, the company has completed scheduled maintenance work at its Vadinar (Gujarat) refinery and is now fully prepared to meet fuel demand across the country. The company has also activated its entire retail network to ensure uninterrupted fuel supply.

Nayara Energy operates a 20 million tonnes per annum oil refinery in Vadinar, Gujarat, which is among the country’s leading private refineries.