New Delhi: Nayara Energy has reduced petrol and diesel prices with effect from Wednesday, 1 July 2026, by ₹5 and ₹3 per litre, respectively.
The price cut applies to all 7,000 fuel stations of the Rosneft-backed company. In Gurugram, petrol is now priced at ₹102.76 per litre at Nayara pumps, while diesel is sold at ₹95.58 a litre, according to petrol pump dealers.
“Post refinery turnaround, Nayara is fully geared to meet demand,” a company official said. The company's 20 million tonnes per annum Vadinar refinery was undergoing a month-long maintenance or turnaround from 9 April.
With this price revision, India's largest private retailer is the first oil marketing company in the country to roll back price hikes following the recent easing of global crude oil prices after the signing of the memorandum of understanding (MoU) between Iran and the US on 17 June, and the subsequent opening of the Strait of Hormuz, a key channel for 20% of global oil and gas trade.
To be sure, Nayara was the first retailer to raise fuel prices after the outbreak of war in West Asia and the closure of the Strait of Hormuz, which led to a surge in international oil prices. On 26 March, it increased petrol prices by ₹5 per litre and diesel by ₹3 per litre.
Around 10:00 am, the September Brent contract was trading at $73.24 per barrel, up 0.4% from its previous close, while the August West Texas Intermediate contract was trading at $69.77 per barrel, up 0.39%.
Brent has eased significantly from the four-year high of $126.41 on 30 April.
Other OMCs, both public and private, are yet to roll back prices.
The price of petrol at the pumps of the public-sector OMC, Indian Oil Corp Ltd (IOCL), in Delhi is ₹102.12 per litre, and diesel is sold at ₹95.20 per litre. The state-run OMCs—IOCL, Bharat Petroleum Corp. Ltd, and Hindustan Petroleum Corp. Ltd—account for 90% of the country’s around 100,000 pumps.
