Published On: Thu, Jun 30th, 2016

Petrol price slashed by 89 paise a litre, diesel by 49 paise

New Delhi: It could be termed a miniscule cut but than the fact remains that after series of periodic rise, petrol price was on Thursday cut by 89 paise a litre and diesel by 49 paise a litre.

Diesel will cost Rs 54.70 per litre as against Rs 55.19 a litre currently

Diesel will cost Rs 54.70 per litre as against Rs 55.19 a litre currently

The first decrease in rates in two months, petrol will cost Rs 64.76 a litre in Delhi from Thursday midnight as compared to Rs 65.65 per litre currently, Indian Oil Corp, the nation’s largest fuel retailer, announced on Thursday.

Similarly, diesel will cost Rs 54.70 per litre as against Rs 55.19 a litre currently.

This is the first reduction in rates in two months. Petrol price was last hiked by 5 paise a litre on June 16 and diesel by Rs 1.26 a litre. Petrol prices in the four hikes since May 1 had been raised by Rs 4.52 a litre, while diesel rates had gone up 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.

The movement of prices in the international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, added IOC, the oil marketing company.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>