New Delhi: India’s largest private fuel retailer, Nyara Energy, has reduced petrol prices by ₹5 per litre and diesel prices by ₹3 per litre. The move marks the first retail fuel price cut by any oil marketing company in more than two years.
The price reduction follows a decline in global crude oil prices after tensions in West Asia eased and a key maritime trade route reopened, reducing concerns over supply disruptions.
According to industry sources, the revised rates have come into effect at more than 7,000 Nyara fuel stations across the country. However, the final retail price will continue to vary from state to state depending on local taxes such as Value Added Tax (VAT).
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 so far. Since these public sector companies operate over 90% of the country’s fuel stations, petrol and diesel prices at most outlets remain unchanged.
In Delhi, petrol continues to be priced at ₹102.12 per litre and diesel at ₹95.20 per litre at IOC outlets.
Nyara Energy was also among the first retailers to increase fuel prices after international crude oil prices surged due to the Iran conflict. On March 26, the company had raised petrol prices by ₹5 per litre and diesel prices by ₹3 per litre. With the latest revision, those increases have now been rolled back following the fall in global crude oil prices.
