Petrol price cut by Rs. 2.16/l, diesel down by Rs. 2.10/l

Petrol price has been cut by Rs. 2.16 per litre, while the cost of diesel is down by Rs. 2.10 per litre. The said decrements are excluding state levies and hence the final reduction will be a bit higher after taking into account the local VAT. The revised prices have been made applicable from yesterday midnight.

Post this price reduction, petrol in New Delhi is pegged at Rs. 65.32 per litre, while diesel is priced at Rs. 54.90 per litre. The last revision was made on May 1, when petrol and diesel prices were hiked by 1 paisa/litre and 44 paisa/litre, respectively.

Fuel prices in the country are revised every fortnight on the 1st and 16th of each month. State-owned oil retailers like Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) take into account the INR-USD exchange rates and international crude oil prices to ascertain the final applicable price revision.

Source: PTI