Petrol price slashed by 7 paise per litre and diesel by 5 paise
NEW DELHI: State-run Indian Oil Corp. Ltd (IOC) on Thursday reduced diesel and petrol prices by 5 paise and 7 paise per litre, respectively, after automobile fuel prices reached a record high on Tuesday.
The price cut followed staterun fuel retailers’ move to reduce petrol and diesel prices by 1 paisa per litre on Wednesday which was mocked by the opposition. The Left-front government in Kerala on Wednesday announced a cut in fuel prices by ₹1 per litre from Friday, scoring a political point against the centre. “Another second anniversary gift to people: The sales tax on petrol reduced by 1.69% and diesel by 1.75% in Kerala. The retail prices to decline by 1 Rupee…now will PM Modi be willing to roll back his tax hike?” Kerala’s finance minister Thomas Isaac tweeted on Wednesday.
Diesel and petrol prices in Delhi on Thursday were Rs69.25 per litre and Rs78.35 per litre, respectively, at IOC outlets.