The state-owned oil marketing companies cut petrol price by Rs 1.42 a litre and diesel by Rs 2.01 per litre in the national capital from Sunday midnight.
The state-owned oil marketing companies cut petrol price by Rs 1.42 a litre and diesel by Rs 2.01 per litre in the national capital from Sunday midnight. There will be corresponding cut across the country on these two fuels depending upon local taxes like VAT.
This is the third reduction in rates in over 30 days due to fall in international prices of crude oil.
Petrol will now cost Rs 61.09 a litre in Delhi from Rs 62.51 a litre and diesel will cost Rs 52.27 per litre as against Rs 54.28. Petrol price was last cut by Rs 2.25 a litre on July 16. Diesel rate on that date was reduced by Rs 0.42 a litre. Prior to that petrol price was cut by 89 paise a litre and diesel by 49 paise on July 1. Prior to the reductions in July, rates had been hiked on four occasions since May 1.
“The current level of international product prices of petrol and diesel and Rupee-US dollar 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.
The movement of prices in the international oil market and Rupee-US dollar exchange rate shall be monitored closely.
