Private fuel retailer Nayara Energy has reduced petrol prices by ₹5 per litre and diesel prices by ₹3 per litre across its fuel stations in India. The revised rates came into effect from July 1, 2026, marking the company’s biggest fuel price cut in more than two years.
The price reduction follows a fall in global crude oil prices after tensions in West Asia eased. The reopening of key international shipping routes has improved the supply of crude oil and LNG, leading to lower fuel prices in the global market.
The revised prices have been implemented at more than 7,000 Nayara Energy fuel stations across the country. However, retail prices may vary slightly from state to state due to differences in VAT and other local taxes.
Nayara Energy operates a 20-million-tonne-per-year refinery at Vadinar in Gujarat. With maintenance work completed, the refinery is now operating at full capacity.
Meanwhile, state-run oil marketing companies, including Indian Oil Corporation (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL), have not announced any reduction in fuel prices. In Delhi, petrol continues to be sold at ₹102.12 per litre and diesel at ₹95.20 per litre at Indian Oil outlets.
Nayara Energy had increased petrol prices by ₹5 per litre and diesel by ₹3 per litre during the Iran-related crisis in March. With the latest announcement, the company has rolled back that entire increase.
Market experts believe that if international crude oil prices remain stable, government-owned oil companies may also consider reducing fuel prices in the coming days.