Nayara slashes fuel price; Petrol price cut by Rs 5 per litre, diesel by Rs 3

NEW DELHI: The Nayara Energy, a private company, has slashed the price of fuel. The petrol price has been cut by Rs 5 and diesel by Rs 3 all over the country. Nayara's move comes amid low oil prices in the international market. This is the first such reduction in prices since the tensions in the Middle East eased.

The revised rates will come into effect at 7,000 Nayara pumps in the country from today. Despite the decline in crude prices in the international market, public sector oil companies Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum have not been ready to reduce petrol and diesel prices in India. These companies supply 90 percent of the fuel required by the country.

Meantime, the price of commercial LPG cylinders in the country has also been reduced. The price of a cylinder has been reduced by Rs 183. With this, the price of a 19 kg commercial cylinder has become Rs 2930. There is no change in the price of domestic LPG cylinders. The new price will come into effect from today.