Petrol rate cut by Rs 3.77/litre, diesel price reduced by Rs 2.91/litre
Based upon the increase in Indian money value, State-owned oil firms reduced rates of petrol and diesel with effect from midnight tonight. The price of petrol has been cut by Rs 3.77 per litre and that of diesel by Rs 2.91 a litre, this is the first change in rates in two-and-a-half months. Petrol currently costs Rs 71.14 a litre in Delhi and Diesel is priced at Rs 59.02 per litre.
Petrol, Diesel 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.