Nayara Energy cut petrol prices by Rs 5 per litre and diesel by Rs 3

Nayara Energy, India’s largest private fuel retailer, on Wednesday, July 1, 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).