Nayara Energy, India’s largest private fuel retailer, has reduced petrol and diesel prices across its retail network, becoming the first company in more than two years to announce a cut in fuel prices.

According to reports cited by Hindustan Times, petrol prices have been reduced by Rs 5 per litre, while diesel has become cheaper by Rs 3 per litre. The revised rates have come into effect at more than 7,000 Nayara fuel stations across the country.

The reduction follows a decline in global crude oil prices and easing tensions in West Asia.

Also Read | From EPFO to passport fees: Major rule changes effective July 1

#WATCH | Luknow, Uttar Pradesh: Nayara Energy has cut the prices of Diesel and petrol. Petrol prices have been reduced by Rs 5 per litre and Diesel prices have been reduced by Rs 3 per litre.

A customer says, “I want to thank Nayara Energy for reducing the fuel prices as this… pic.twitter.com/baWRjlPBZ1— ANI UP/Uttarakhand (@ANINewsUP) July 1, 2026

Price cut follows earlier hike

Nayara Energy had earlier become the first fuel retailer to increase prices during the peak of tensions between the United States and Iran. During that period, the company had raised petrol prices by Rs 5.30 per litre and diesel prices by Rs 3 per litre.

The earlier hike came amid concerns over disruptions to global oil supplies due to instability in West Asia and disturbances in the Strait of Hormuz, a key route for global crude shipments.

Nayara Energy, which is majority-owned by Russia’s Rosneft, operates a 20 million-tonne-per-year refinery at Vadinar in Gujarat.

Public sector oil companies maintain prices

While Nayara has reduced fuel prices, state-owned oil marketing companies have not announced any changes.

Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, which together operate the majority of fuel stations in the country, have kept petrol and diesel prices unchanged, HT reported.

Fuel prices may also vary from state to state because of local taxes and value-added tax rates.

Centre withdraws temporary fuel restrictions

Meanwhile, the Centre has also lifted temporary restrictions imposed on fuel sales during the recent disruption in global energy markets.

From July 1, the government removed the 200-litre daily limit on diesel purchases and ended restrictions on the sale of auto fuels to bulk consumers, per an HT report.

Also Read | India’s direct tax revenue gets strong FY27 start as collections jump 14.6%

The measures had been introduced on June 12 following supply concerns linked to tensions in the Middle East and the Strait of Hormuz.

Among major cities, Hyderabad continues to record the highest fuel prices, with petrol selling at Rs 115.69 per litre and diesel at Rs 103.82 per litre.

FAQs:

How much has Nayara reduced petrol prices?

Nayara has reduced petrol prices by Rs 5 per litre across its fuel stations.

Has Nayara cut diesel prices as well?

Yes, diesel prices have been reduced by Rs 3 per litre.