New Delhi: Petrol and Diesel prices have been slashed today by Rs. 2.43/litre and Rs. 3.60/litre respectively. The change in price will be effective from midnight.
The fuel prices were last revised on 16th July'15 and since the last price change, there has been a decrease in international prices of both Petrol & Diesel.
After the current reduction, the selling price of Petrol in the national capital will be decreased from Rs 66.90 per litre to Rs. 64.47/litre, Whereas, with a cut of Rs. 3.60/litre, Diesel will be sold at Rs. 46.12/litre against earlier price of Rs 49.72 per litre.
Announcing the price cut, Indian Oil Corporation said, "The movement of prices in international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes".
Noticeably, the base diesel and petrol prices were reduced by Rs 2 per litre on July 16. However, some states, including Delhi raised local taxes, which nullified this reduction.