Petrol price cut by ~1.42/litre, diesel by ~2.01/litre

Petrol prices were on Sunday cut by ~1.42 a litre and diesel by ~2.01 a litre, the third reduction in rates this month on global cues. Petrol will cost ~61.09 a litre in Delhi from Monday, as compared with ~62.51 a litre currently, said Indian Oil, the nation’s largest fuel retailer. Diesel will cost ~52.27 a litre, as against ~54.28 currently.

The price of petrol was cut on Sunday by ~1.42 a litre and diesel by ~2.01 per litre, the third reduction in rates this month, on global cues.

Petrol will cost ~61.09 a litre in Delhi from midnight as compared to ~62.51 a litre currently, said Indian Oil Corp (IOC). The price of diesel will cost ~52.27 per litre as against ~54.28 currently.

Prior to the reductions in July, the rates had been hiked on four occasions since May 1. Petrol prices in the four hikes had been raised by ~4.52 a litre and diesel by ~7.72 per litre."The current level of international product prices of petrol and diesel and rupeedollar exchange rate warrant a 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.