Nayara Energy cuts petrol prices by ₹5/litre, diesel by ₹3 as crude gets cheaper | Mint
New Delhi: Nayara Energy has reduced petrol and diesel prices with effect from Wednesday 1 July 2026 by ₹5 a ₹3 per liter, or
The price reduction applies to all 7,000 gas stations of the company supported by Rosneft. The price of petrol in Gurugram is now for ₹102.76 per liter at Nayara pumps while diesel is sold at ₹95.58 liters, according to petrol pump dealers.
“Following the refinery turnaround, Nayara is fully prepared to meet demand,” a company official said. The 20-million-tonne-a-year Vadinar refinery has been undergoing a month-long maintenance or shutdown since April 9.
The price revision makes India’s largest private retailer the first oil marketing company in the country to halt price increases following the recent easing of global oil prices following the signing of a memorandum of understanding (MoU) between Iran and the US on June 17 and the subsequent opening of the Strait of Hormuz, a key channel for 20% of global oil and gas trade.
Sure enough, Nayara was the first retailer to raise fuel prices after the outbreak wars in West Asia and the closure of the Strait of Hormuz, which led to a sharp rise in international oil prices. On March 26, the price of gasoline increased by ₹5 per liter and diesel according to ₹3 per liter.
By 10:00 a.m., September Brent was trading at $73.24 a barrel, up 0.4% from the previous close, while August West Texas Intermediate was trading at $69.77 a barrel, up 0.39%.
Brent has weakened significantly from a four-year high of $126.41 on April 30.
Other open coordination methods, both public and private, have yet to lower prices.
The price of petrol at the pumps of public sector OMC, Indian Oil Corp Ltd (IOCL), in Delhi is ₹102.12 per liter and diesel is sold at ₹95.20 per litre. State OMCs – IOCL, Bharat Petroleum Corp. Ltd and Hindustan Petroleum Corp. Ltd – account for 90% of the approximately 100,000 pumps in the country.
