Nayara cuts petrol by ₹5 and diesel by ₹3 nationwide as global crude prices ease

State-run fuel retailers are seen holding prices as they work through costly crude inventories and recover losses from the recent oil price spike, sources said.

New Delhi: Nayara Energy, India's largest private fuel retailer, on Wednesday cut petrol prices by Rs 5 per litre and diesel by Rs 3 a litre across its nationwide network, marking the first reduction in retail fuel prices by any company in more than two years as easing tensions in West Asia pulled down international oil prices.Tata Launches Refreshed Tiago With Petrol, CNG And EV Options The price cut follows a retreat in global crude oil prices after hostilities in West Asia eased and the reopening of a key maritime route restored the flow of crude oil and liquefied natural gas, reducing concerns over supply disruptions.The revised rates have come into effect at all of Nayara's more than 7,000 fuel stations across the country, industry sources said. Actual pump prices vary across states depending on local levies such as value-added tax (VAT).Public sector fuel retailers, however, kept prices unchanged. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), which together account for more than 90 per cent of India's over one lakh fuel stations, did not announce any revision.Oil Prices Fall, But OMCs Unlikely To Cut Fuel Prices Soon Amid Heavy Loss Recovery In Delhi, petrol continues to be priced at Rs 102.12 per litre and diesel at Rs 95.20 per litre at IOC outlets.Nayara had been among the first retailers to raise fuel prices after the outbreak of the Iran conflict triggered a spike in international oil prices. On March 26, it increased petrol prices by Rs 5 per litre and diesel by Rs 3 per litre.State-run fuel retailers followed later, raising petrol and diesel prices by a cumulative Rs 7.50 per litre each in a series of revisions during the second half of May, reflecting higher international crude prices and elevated product costs.Centre Extends Full Customs Duty Waiver On 40 Petrochemical Imports By 15 Days Till July 15 Amid West Asia Turmoil Wednesday's cut by Nayara effectively reverses its March increase and is the first signal of lower fuel prices reaching Indian consumers after global oil markets stabilised in recent weeks.Sources said post-refinery turnaround, Nayara is fully geared to meet demand and is pressing its entire network to meet the consumption needs of the country.Nayara operates a 20 million tonnes per year oil refinery at Vadinar in Gujarat. (Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

Nayara Energy, India's largest private fuel retailer, has slashed petrol prices by Rs 5 and diesel by Rs 3 per litre nationwide. This marks the first price reduction by any fuel retailer in over two years, driven by easing Middle East tensions and falling international crude oil prices. While Nayara passed on the benefits, state-run companies kept rates unchanged.

The revised rates have come into effect at all of Nayara's more than 7,000 fuel stations across the country, industry sources told PTI. Actual pump prices vary across states depending on local levies...

Nayara Energy, India's largest private fuel retailer, on Wednesday cut petrol prices by Rs 5 per litre and diesel by Rs 3 a litre across its nationwide network, marking the first reduction in retail fuel prices by any company in more than two years as easing tensions in West Asia pulled down international oil prices. The price cut follows a retreat in global crude oil prices after hostilities in West Asia eased and the reopening of a key maritime route restored the flow of crude oil and liquefied natural gas, reducing concerns over supply disruptions. The revised rates have come into effect at all of Nayara's more than 7,000 fuel stations across the country, industry sources said. Actual pump prices vary across states depending on local levies such as value-added tax (VAT). Public sector fuel retailers, however, kept prices unchanged. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), which together accou

The revised rates have come into effect at all of Nayara's more than 7,000 fuel stations across the country, industry sources told PTI. Actual pump prices vary across states depending on local levies such as value-added tax (VAT).