After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy – the nation’s largest private fuel retailer – has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said.
While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers.
“To further stimulate domestic consumption and cater to local customers better, we have introduced a Re 1 discount in our retail outlets until the end of June 2023,” a spokesperson for Nayara Energy said.
