Petrol and diesel prices cut as private fuel retailer offers fresh relief

The move comes after a fall in global crude oil prices, while government-run fuel companies have kept their rates unchanged.

Private fuel retailer Nayara Energy has reduced the price of petrol by Rs5 per litre and diesel by Rs3 per litre across its nationwide network. The company said the new prices have already taken effect at more than 7,000 fuel stations.

Nayara Energy said fuel prices may still vary from state to state because of local taxes, especially Value Added Tax (VAT). As a result, customers may see different prices at fuel stations depending on their location.

According to media reports, global crude oil prices have declined after tensions in the Middle East eased. Following this trend, Nayara Energy decided to pass the benefit on to consumers by lowering fuel prices.

Meanwhile, government-owned fuel companies have not changed petrol or diesel prices. Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited continue to sell fuel at existing rates through a network that covers more than 90 percent of India’s over 100,000 fuel stations.

Reports said petrol at government-operated fuel stations in Delhi remains priced at Rs102.12 per litre, while diesel continues to be sold at Rs95.20 per litre. Customers using these outlets will not see any immediate change in fuel prices.

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Earlier in March, Nayara Energy had increased petrol prices by Rs5 per litre and diesel prices by Rs3 per litre when global oil prices were rising. The company has now reversed that increase, which is being seen as a sign of possible fuel price relief for Indian consumers if stability continues in the international oil market.

The latest fuel price cut shows how changes in global oil markets can quickly affect local prices. If crude oil remains stable, more fuel companies could consider offering similar relief in the coming weeks.