Nayara Energy starts selling petrol and diesel at Re 1 less than state-owned retailers

Private refiners are selling petrol and diesel at rates lower than their PSU peers, benefiting from soft crude oil prices and imports of cheap Russian crude.

Rosneft-backed Nayara Energy, with more than 6,000 pumps in the country, has reportedly started selling petrol and diesel at Re 1 less than the state-owned retailers — following another private sector peer Reliance Industries and its partner bp plc of the UK.