Petrol and Diesel prices reduced following dip in international market
New rates to be effective from Thursday
State-run Indian Oil Corp on Wednesday said it has reduced prices of transport fuels effective midnight by 80 paise a litre for petrol and by Rs.1.30 a litre for diesel, both including local taxes in Delhi.
Retail diesel price will be cut by 1.30 rupees ($0.02) a litre and retail petrol price by 0.80 rupees a litre, the company said in a statement on Wednesday.
“Prices of petrol and diesel were last revised downwards with effect from April 2. Since last price change, the trend of international prices of petrol and diesel and INR-USD exchange rate warrant a further downward revision in prices, the impact of which is being passed on to the consumers with this price decrease,” Indian Oil said in a statement.
“The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes,” the company added.