Price of Petrol Cut by Rs 3.77 per litre and Diesel by Rs 2.91
Petrol price has been cut by Rs 3.77 a litre and that of diesel by Rs 2.91 a litre. This is the first change in rates since two and a half months.
State-owned oil firms cut rates with effect from midnight tonight. Petrol currently costs Rs 71.14 a litre in Delhi and Diesel is priced at Rs 59.02 per litre.
Petrol price will be cut by Rs 3.77 per litre, excluding state levies, said Indian Oil Corp (IOC). Actual decrease will be larger after taking into account the local levies.
Similarly, diesel rate was cut by Rs 2.91, excluding state levies.
Rates were last revised on January 16 when price of petrol went up by 54 paise. On that date, diesel rates were hiked by Rs 1.20 a litre.
“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement.
IOC said the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.
NEW DELHI: In a significant development, Qatar has agreed to waive USD 1 billion penalty on India for breaking a Read more
New Delhi: The price of petrol was on Monday cut by 58 paise per litre while that of diesel was Read more
Wholesale Price Index (WPI)-based inflation fell for a 13th straight month in November, dropping 1.9 per cent compared to 3.8 Read more
Government on Saturday hiked excise duty on petrol by Rs 0.37 per litre and by Rs 2 a litre on Read more
