TIL Desk/Business/New Delhi-Petrol price was cut by Rs 1.42 a litre and diesel by Rs 2.01 per litre, the third reduction in rates this month on global cues. Petrol will cost Rs 61.09 a litre in Delhi from midnight tonight as compared to Rs 62.51 a litre currently, said Indian Oil Corp, the nation’s largest fuel retailer. Similarly, diesel will cost Rs 52.27 per litre as against Rs 54.28 currently.
This is the third reduction in rates this month. 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. 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.
