Public sector oil marketing companies did not change the retail prices of petrol and diesel.
The easing of tensions related to the US-Iran conflict has begun to be reflected in India’s fuel market, with Nayara Energy’s commercial LPG, Aviation Turbine Fuel (ATF), gasoline and diesel prices witnessing significant declines on Wednesday.
The price reductions come after indications of progress in diplomatic communication between the United States and Iran. US negotiators Jared Kushner and Steve Witkoff held positive discussions in Qatar, while a senior Trump administration official said technical talks with Iran are moving forward, Bloomberg reported.
Read also | Commercial LPG, petrol, diesel and jet fuel: Big price cuts in India as war eases. Full list
This easing comes after months of fluctuations that led to higher energy costs globally.
Nayyara reduces gasoline and diesel prices
Private fuel selling company Nayara Energy has reduced gasoline prices by $5 per liter and diesel prices $3 per liter across its network of more than 7,000 fuel stations nationwide.
The revised prices took effect from Wednesday, though the company said pumping prices may vary from state to state due to local taxes and value-added tax (VAT).
Read also | $5, diesel by $3″>Nayara, India’s largest private fuel retailer, reduces the price of petrol by $5, diesel by $3
Public sector oil marketing companies did not change the retail prices of petrol and diesel.
Notably, Nayara was also the first fuel retailer to raise prices during the height of the US-Iran conflict in March.
Nayyara vs Public Sector Retailers: Petrol and Diesel Prices in Major Cities
| city | Gasoline can ( $/l) | Public sector gasoline retailers ( $/l) | Nayara Diesel ( $/l) | Public sector diesel retailers ( $/l) |
|---|---|---|---|---|
| Delhi | – | 102.12 | – | 95.20 |
| Hyderabad | – | 115.69 | – | 103.82 |
| Kolkata | – | 113.51 | – | 99.82 |
| Mumbai | 111.66 | 111.21 | 97.99 | 97.83 |
| Chennai | – | 107.76 | – | 99.55 |
| Gurugram | – | 102.97 | – | 95.64 |
| Bengaluru | 111.20 | 111.68 | 98.80 | 99.56 |
| Bhubaneswar | – | 108.97 | – | 100.68 |
| Faridabad | 103.00 | 103.28 | 98.84 | 95.94 |
(Nayara data sourced from NDTV and for general retailers – good returns)
Neyara fuel prices in Delhi remained unclear at the time of publishing the story.
The West Asian crisis has pushed fuel prices up
Since February 28, oil markets have remained under pressure due to the conflict in West Asia. Concerns about unrest in the Strait of Hormuz, one of the world’s most important oil transit routes, have sent crude oil prices soaring and affected fuel costs in several countries, including India.
As global oil prices rose, domestic prices for commercial LPG, gasoline, diesel and aviation turbine fuel also rose. As geopolitical tensions showed signs of easing, these prices began to decline.
Oil markets are showing signs of stabilization
The decline in fuel prices comes after reports that oil tanker traffic through the Strait of Hormuz has begun to recover following the signing of a 14-point memorandum of understanding between the United States and Iran and the latest round of talks in Qatar.
Crude oil prices have also declined in recent days. On Wednesday, Brent crude oil traded above $73 per barrel, while WTI remained hovering near $70 per barrel.
Iran also said it exported more than 40 million barrels of oil after the United States lifted its naval blockade of Iranian ports, with Russian shipments reaching record levels.
Follow the latest breaking news, key developments and agenda-setting stories from India and around the world with Hindustan Times Newsdesk. Operating around the clock, the bureau brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across topics affecting public policy, governance, business, society and international affairs. The HT Newsdesk covers politics, elections, government policy, economics, business, markets, science and technology, environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across countries, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the News Desk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory files, recognized institutions and other official sources. Stories undergo editorial review and verification to ensure accuracy, fairness and appropriateness, and are updated as events develop and additional information becomes available. Whether covering a major policy decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with trusted, fact-based journalism that provides not only the latest developments but also the context and analysis needed to understand their wider implications.Read more
