Nayara Energy reduced petrol prices by ₹5 per litre and diesel by ₹3 per litre across its network of over 7,000 fuel stations in India.
This price cut is the first retail fuel price reduction by any oil marketing company in India in more than two years.
State-owned fuel retailers, including Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, have kept their retail prices unchanged.
Nayara Energy reduced fuel prices on Wednesday, cutting petrol by ₹5 per litre and diesel by ₹3 per litre across the country.
As India’s largest private fuel retailer, this move represents the first reduction in retail prices by any domestic distributor in more than two years, according to PTI reports.
1 June 2026
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The government has also declared that it will remove the restrictions on petrol and diesel sales that were introduced during the US-Iran conflict.
The easing of these limits will take effect from 1 July.
The change follows a decline in global oil prices, driven by easing tensions in West Asia and the reopening of the Strait of Hormuz, a key shipping corridor, which has resumed the flow of crude oil and liquefied natural gas.
The restoration of these transit routes has helped ease market concerns about possible fuel shortages.
State Retailers Hold Prices
The revised rates have taken effect. Drivers can take advantage of these lower prices at any of the company’s more than 7,000 outlets across the country.
Nonetheless, the final pump charges will vary from state to state due to differing local levies such as value-added tax (VAT).
Public sector fuel retailers, however, left prices unchanged. State-owned Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, which together operate over 90% of India’s more than one lakh fuel stations, did not announce any revision.
Reversing Previous Price Hikes
The conflict in Iran drove up global oil prices. Nayara responded swiftly, increasing petrol prices by ₹5 per litre and diesel by ₹3 per litre on March 26, 2026.
State-owned companies followed in late May, raising the prices of both fuels by a cumulative ₹7.50 per litre to counter higher crude and product costs. The mid-week price cut effectively reverses the March increase and marks the first sign of relief for domestic consumers after the recent stabilisation of international oil markets.
Nayara is deploying its entire distribution network to meet domestic fuel demand, according to industry sources. The private retailer operates a refinery with an annual capacity of 20 million tonnes at Vadinar in Gujarat.
