Commercial LPG, petrol, diesel, jet fuel prices slashed in India as West Asia tensions ease; full list of revised rates

New Delhi: Consumers and businesses received a major respite on Wednesday after fuel prices across multiple categories were reduced in India, reflecting a sharp decline in international crude oil prices following the easing of geopolitical tensions in West Asia.

State-run oil marketing companies slashed the price of 19-kg commercial LPG cylinders by ₹183.50, marking the first reduction in commercial LPG rates this year. In Delhi, the revised price now stands at ₹2,930 per cylinder. Domestic 14.2-kg LPG cylinder prices, however, remain unchanged.

The aviation sector also received a boost, with the price of Aviation Turbine Fuel (ATF) reduced by nearly ₹5 per litre, bringing the retail rate in Delhi to around ₹110 per litre. Lower ATF prices could help airlines reduce operating costs, although any impact on airfares will depend on market conditions and airline pricing strategies.

Petrol and diesel prices revised

Private fuel retailer Nayara Energy announced fresh reductions in retail fuel prices across its outlets nationwide. The company cut:

• Petrol: Reduced by ₹5 per litre

• Diesel: Reduced by ₹3 per litre

The move marks the first retail fuel price reduction by a major private player in over two years and follows the softening of global crude prices.

Meanwhile, retail prices at public sector oil companies remained unchanged in most cities, with Delhi's benchmark rates continuing at around ₹102.12 per litre for petrol and ₹95.20 per litre for diesel, according to official data.

Why are fuel prices falling?

The latest price revisions come after crude oil prices retreated from recent highs as fears of supply disruptions eased following the de-escalation of conflict in West Asia. Improved shipping movement through the strategically important Strait of Hormuz also helped stabilize global energy markets, reducing pressure on fuel imports.

India imports a significant portion of its crude oil requirements, making domestic fuel prices sensitive to fluctuations in international oil markets. The recent decline has enabled oil companies to pass on some of the benefits to commercial consumers and the aviation industry.

Full list of key price changes

• Commercial LPG (19 kg): Reduced by ₹183.50 per cylinder

• Domestic LPG (14.2 kg): No change

• Aviation Turbine Fuel (ATF): Reduced by about ₹5 per litre

• Nayara Energy Petrol: Reduced by ₹5 per litre

• Nayara Energy Diesel: Reduced by ₹3 per litre

• Public sector petrol and diesel prices: Largely unchanged in major cities

The latest reductions are expected to provide relief to restaurants, hotels, commercial establishments, transport operators and airlines, while easing operating costs across several sectors of the economy.