‘Matter of relief’: Consumers welcome Nayara’s fuel price cut

New Delhi, July 1 (SocialNews.XYZ) Consumers and fuel retailers across several states on Wednesday welcomed Nayara Energy's decision to reduce petrol and diesel prices, saying the move has brought much-needed relief after weeks of high fuel costs triggered by geopolitical tensions in West Asia.

From Uttar Pradesh and Punjab to Gujarat, customers at Nayara fuel stations said the reduction in prices would ease their daily expenses, particularly for commuters and gig workers who had been hit hard by the increase in fuel rates.

In Uttar Pradesh, a consumer expressed satisfaction over the reduction in prices. “Yes, earlier it was Rs 107 per unit, now it is Rs 102. There is some relief. We support PM Narendra Modi. We had voted for him. Whether the Bharatiya Janata Party wins or loses, it is considered a party of Sanatan Dharma…” the consumer told IANS.

In Gujarat, petrol pump owner Kishorbhai Patel said the revised prices would benefit both dealers and customers. “…The company has now reduced petrol prices by Rs 5 per litre and diesel prices by Rs 3 per litre. The revised rates announced by the company are very good, not only for us but also for our customers. It is a welcome decision that benefits everyone. Petrol is now priced at Rs 101.80 per litre, while diesel costs Rs 97.63 per litre…” he said.

In Punjab, a local resident highlighted the immediate impact of the reduction. “There is a major difference. Yesterday it cost Rs 110, today it costs Rs 105. The fuel quality is also good, and full quantity petrol is being filled here…” the resident said.

Another resident in the state said the reduction would particularly benefit delivery personnel and other gig workers. “Rates have reduced. Prices were increased because of the conflict, and now they have been reduced. It is a matter of relief. It is a big relief for gig workers because petrol prices had increased but their rates remained the same. Now a relief of Rs 5 has been given, which is a big thing for them,” the local said.

The reactions came after private fuel retailer Nayara Energy reduced petrol prices by Rs 5 per litre and diesel prices by Rs 3 per litre across its retail network with effect from July 1.

The price cut follows a sharp cooling in global crude oil prices after geopolitical tensions in the Middle East eased and concerns over supply disruptions subsided.

Following the revision, petrol in Bengaluru is priced at Rs 111.20 per litre, while diesel is retailing at Rs 98.80. A Nayara petrol pump operator in Karnataka said the company communicated the revised prices at 3:20 a.m. on Wednesday.

In Faridabad, petrol is now being sold at Rs 103 per litre, while diesel costs Rs 98.84. In Maharashtra, Nayara outlets are retailing petrol at Rs 111.66 per litre and diesel at Rs 97.99.

Industry observers said the reduction is expected to benefit private vehicle owners, commercial users and businesses that rely heavily on fuel, while offering some respite from inflationary pressures linked to transportation costs.

Source: IANS