Petrol price cut by ₹ 2.25/litre, diesel by 42 paise
Posted on: 16/Jul/2016 9:20:40 AM
Public sector oil retailers on Friday lowered the retail price of petrol by ₹ 2.25 per litre and of diesel by ₹ 0.42 per litre in Delhi and also made corresponding revisions in other States.
“With this change, the price of petrol in Delhi will become ₹ 62.51 per litre and of diesel ₹ 54.28 per litre,” said Indian Oil Corporation in a statement.
This is the second reduction in rates this month. Petrol price was cut by 89 paise a litre and diesel by 49 paise on July 1.
Prior to the reduction this month, rates had been hiked on four occasions since May 1. Petrol prices in the four hikes had been raised by Rs. 4.52 a litre and diesel by Rs. 7.72 per litre.
“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.
“With this change, the price of petrol in Delhi will become ₹ 62.51 per litre and of diesel ₹ 54.28 per litre,” said Indian Oil Corporation in a statement.
This is the second reduction in rates this month. Petrol price was cut by 89 paise a litre and diesel by 49 paise on July 1.
Prior to the reduction this month, rates had been hiked on four occasions since May 1. Petrol prices in the four hikes had been raised by Rs. 4.52 a litre and diesel by Rs. 7.72 per litre.
“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.
