India's largest private fuel retailer, Nayara Energy, has cut petrol prices by ₹5 and diesel by ₹3 per liter. This is the first time in more than two years that a company has cut petrol and diesel prices.

The impact of falling crude oil prices is now visible. India's largest private fuel retailer, Nayara Energy, has reduced petrol prices by ₹5 and diesel by ₹3 per liter. This is the first time in more than two years that the company has reduced the price of petrol and diesel. Nayara has over 7,000 petrol pumps across the country. Actual prices may vary depending on local taxes such as value-added tax (VAT) in different states. This company was the first to increase petrol and diesel prices after the Iran war. The

Iran conflict had led to a sharp rise in crude oil prices. In response, Nayara increased petrol prices by ₹5 per liter and diesel by ₹3 per liter on March 26th. In effect, the company has reversed these increases. Nayara operates a 20 million tonne per annum oil refinery in Vadinar, Gujarat.

Oil price drop

Following the easing of tensions in West Asia, crude oil prices have fallen to pre-Iran war levels. However, state-owned oil companies have not announced any changes to petrol and diesel prices. State-owned companies Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) have not announced any price changes. These companies own 90 percent of the petrol pumps in the country.

The price of petrol at Indian Oil petrol pumps in Delhi remains at ₹102.12 per liter and diesel at ₹95.20 per liter. In May, these companies increased petrol and diesel prices by a combined ₹7.50 per liter. Crude oil prices rose 'font-size:12.0pt;line-height:115%'>