Nayara Energy announces a reduction in fuel prices following a fall in global crude oil rates. The company cuts petrol prices by ₹5 per litre and diesel prices by ₹3 per litre, effective 1 July, according to multiple reports. Outlets link the decision to easing tensions in West Asia and improvements in global supply conditions. Reports cite a retreat in crude prices after hostilities cool, alongside developments related to the Iran–US memorandum of understanding and the reopening of the Strait of Hormuz, which helps restore shipping flows. The improved maritime movement is also described as reducing concerns over disruptions to crude oil and liquefied natural gas supplies. Mint and Business Line note that the move is the first time any Indian fuel retailer has rolled back prices in more than two years, framing the change as a significant break from the prior pricing pattern. The reporting across outlets agrees on the amounts of the cut, the date of implementation, and the broader cause: lower international oil costs and fewer supply-risk concerns.