Overview
- The government withdrew its June 12 order that capped retail diesel sales and barred commercial buyers from pumps, with the change taking effect on Wednesday, July 1.
- State-run oil firms cut the 19-kg commercial LPG cylinder by ₹183.50 on July 1 while leaving the 14.2-kg household LPG price unchanged.
- Nayara Energy reduced petrol by ₹5 per litre and diesel by ₹3 across its network on July 1, but public-sector retailers kept retail pump prices steady.
- Public-sector OMCs trimmed aviation turbine fuel by about ₹5 per litre and the Finance Ministry raised the Special Additional Excise Duty on petrol exports to ₹4 per litre while lowering levies on diesel and ATF to rebalance exports and domestic supply.
- Officials say the rollback follows easing of the West Asia supply shock and reopening of maritime routes, delivering immediate cost relief to hotels, restaurants, airlines and MSMEs while households see little change and authorities monitor flows and fiscal implications.