PETROL PRICE CUT BY 63 P, DIESEL BY `1.06 A LITRE
NEW DELHI: The petrol price was on Thursday cut by 63 paise a litre and diesel by Rs1.06 a litre, the third reduction this month owing to the drop in global oil rates.
Petrol will cost Rs66.41 a litre in Mumbai from midnight, from the current 67.04.
A litre of diesel will cost Rs52.22, from the current Rs53.28, said Indian Oil Corp (IOC), the nation’s biggest fuel retailer. Prices were last cut by 50 paise for petrol and 46 paise a litre for diesel on December 16. The reduction would have been more had it not been for the hike in excise duty on oil prices.