Nayara Energy announced a reduction of ₹2 per litre in petrol and diesel prices across its retail outlets, effective July 1, 2026. The decision follows a period of stable crude oil prices, which allowed the private fuel retailer to pass on benefits to consumers.
New Fuel Prices in Major Cities
After the price cut, petrol in Delhi now costs ₹94.72 per litre, while diesel stands at ₹87.62 per litre. In Mumbai, petrol is priced at ₹104.21 per litre and diesel at ₹94.27 per litre. Chennai sees petrol at ₹100.85 per litre and diesel at ₹91.56 per litre. Kolkata residents will pay ₹103.94 per litre for petrol and ₹90.76 for diesel.
Reason Behind the Price Reduction
The company attributed the price cut to "stable crude oil prices in the international market over the past few weeks." According to a Nayara Energy spokesperson, "We are committed to providing best-quality fuel at competitive prices. This reduction reflects our effort to share the benefit of lower input costs with our customers." The move comes as global crude benchmarks hover around $75 per barrel, down from $85 in early 2026.
Impact on Consumers and Market
The price cut offers relief to motorists who have faced elevated fuel costs since 2024. Petrol and diesel prices in India are revised daily based on the average international crude price and exchange rates. While state-owned oil marketing companies (OMCs) like Indian Oil, BPCL, and HPCL have not yet announced similar cuts, industry analysts expect them to follow suit if crude remains stable. Nayara Energy, a subsidiary of Russia's Rosneft, operates over 6,000 retail outlets across India.
