Petrol-Diesel Prices Today: As tensions in West Asia eased and transportation normalised, inflationary pressures began to subside. Wednesday, July 1st, brought significant relief to the general public. Indian petroleum companies had previously cut commercial cylinder prices by ₹183, and now, substantial relief has been provided regarding petrol and diesel prices as well.
A price drop of ₹5 per litre for petrol and ₹3 per litre for diesel was recorded in India—a move seen as major relief for consumers. Nayara Energy, the country’s largest private fuel retailer, surprised everyone with this reduction; it marks the steepest single drop in two years. Nayara operates over 7,000 petrol pumps across the country. Meanwhile, state-owned oil companies did not make any changes to their prices.
Prices Were Rising Due to Tensions
Tensions in the Middle East, driven by the ongoing conflict between the US and Iran, had previously caused prices to rise. Due to this situation, Nayara had hiked petrol prices by ₹5 per litre and diesel rates by ₹3 per litre on March 26, 2026. Effectively, the company has now decided to reverse that hike.
State-Owned Oil Companies Did Not Lower Prices
Indian state-owned petroleum companies have not altered petrol and diesel prices. Public sector firms—Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited—have made no announcements regarding price changes. These companies own and operate more than 90 per cent of the petrol pumps across the country.
Prices in Delhi
In the capital, Delhi, petrol prices at Indian Oil pumps are hovering around ₹102.12 per litre, while diesel is priced at ₹95.20 per litre. Notably, these companies had raised petrol and diesel prices by a total of ₹7.50 per litre during the month of May. Meanwhile, crude oil prices saw a marginal increase today. Softening in Global Markets
Since the agreement between the US and Iran was finalised, a softening in petrol and diesel prices has been observed in the international market. According to recent reports, crude oil prices in the global market range between $70 and $73 per barrel. This trend is now beginning to impact petrol and diesel prices as well.
