Petrol, diesel prices reduced
While petrol price was slashed by Rs 2.42 per litre, diesel was reduced by Rs 2.25 per litre.
"Decrease in Retail Selling Price of Petrol by Rs. 2.42 /litre at Delhi (including State levies) with corresponding decrease in other States," the state-run Indian Oil Corporation Ltd. (IOC) said in a statement.
"Decrease in Retail Selling Price of Diesel (Retail) by Rs. 2.25 /litre at Delhi (including State levies) with corresponding decrease in other States," it said.
Speaking on the reason behind the decline, the IOC said: " Since the above price revision, international prices of both Petrol and Diesel have continued to be on a downtrend and the INR-USD exchange rate has appreciated. The combined impact of both these factors warrant a decrease in Retail Selling Prices of both Petrol and Diesel. The movement of prices in international oil market and INR-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes."
Prices of petrol and diesel were last revised downwards on Jan 17 by Rs.2.42 per litre and Rs.2.25 per litre respectively (including State levies at Delhi).
The new price will come to effect from mid night on Tuesday.
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