Nayara Energy Reduces Petrol Price by ₹5 Per Litre and Diesel Price by ₹3 Per Litre

India's retail fuel market has recorded its first pump price reduction in more than 2 years after Nayara Energy lowered petrol prices by ₹5 per litre and diesel prices by ₹3 per litre across its network of more than 7,000 fuel stations, as per news reports. 

The revised prices came into effect on Wednesday (July 1, 2026). Pump prices, however, continue to vary across states because of Value Added Tax (VAT) and other local levies. 

Retail Network and Supply Readiness 

Nayara Energy operates a 20-million-tonnes-per-year oil refinery at Vadinar, Gujarat, has completed its refinery turnaround, according to sources. 

Following the maintenance exercise, Nayara has mobilised its entire retail network to cater to fuel demand across the country. 

Global Crude and Fuel Price Movement 

The reduction follows a decline in international crude oil prices after tensions in West Asia eased and the reopening of a key maritime route restored the movement of crude oil and liquefied natural gas (LNG), reducing concerns over supply disruptions. 

The latest revision also effectively reverses Nayara's 26 March price increase, when it had raised petrol prices by ₹5 per litre and diesel prices by ₹3 per litre after the Iran conflict pushed global crude oil prices higher. 

Industry Pricing Scenario 

During the second half of May 2026, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) increased petrol and diesel prices by a cumulative ₹7.50 per litre each, citing higher global crude oil prices and elevated petroleum product costs. 

The 3 state-run oil marketing companies, which together account for more than 90% of India's over one lakh fuel stations, have not revised retail fuel prices. At IOC outlets in Delhi, petrol continues to retail at ₹102.12 per litre, while diesel is priced at ₹95.20 per litre. 

Read More: Nayara Energy Crosses 7,000 Retail Outlets with Focus on Rural and Urban Markets! 

Conclusion 

Nayara Energy's latest revision rolls back its March fuel price increase and marks the first retail fuel price reduction passed on to Indian consumers after global oil markets stabilised in recent weeks. 

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