The impact of falling crude oil prices in the international market has now reached the retail fuel market. Private sector oil marketing company Nayara Energy has reduced petrol prices by Rs 5 per litre and diesel by Rs 3 per litre at its retail outlets across the country, effective Wednesday.
According to the company, the revised prices came into effect from July 1. Customers can now buy petrol and diesel at the new rates at all Nayara retail outlets.
Parash Mani Yadav, owner of a Nayara petrol pump in Lucknow, said that until now, Nayara’s petrol and diesel were sold at Rs 5 and Rs 3 per litre higher, respectively, compared to state-owned oil marketing companies. With the latest price revision, that additional cost has been completely removed.
Meanwhile, customers have welcomed the price cut. Many said the new rates will reduce fuel expenses and ease some burden on daily costs.
Separately, on Wednesday, oil marketing companies also reduced the price of 19 kg commercial LPG cylinders by Rs 183.50. As per the new rates, the retail price of a 19 kg commercial LPG cylinder in Delhi is now Rs 2,930.
In addition, the price of 5 kg Free Trade LPG (FTL) cylinders has been cut by Rs 13. After the revision, the retail price of this cylinder in Delhi stands at Rs 808.50.
