Indain Government-run oil marketing companies reduced on Friday the retail prices of petrol and diesel by Rs. 2.43 per litre and Rs. 3.60 per litre, respectively.
With this change, the price of petrol in Delhi will become Rs 64.47/litre — down from Rs 66.90/litre. The new diesel price will be Rs. 46.12/litre compared with the previous rate of Rs 49.72/ litre
On July 16, the base diesel and petrol prices were reduced by Rs 2 per litre, although some states, including Delhi raised local taxes, which nullified this reduction.
“Since last price change, there has been a decrease in international prices of both Petrol & Diesel. INR-USD exchange rate has, however, depreciated during this period. Combined impact of both these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease,” a statement by the #Indian Oil Corporation Ltd (IOCL) said late Friday evening.
IOCL also said that prices of non-subsidised #LPG cylinders (14.2kg) in Delhi have been reduced to Rs. 585 from Rs. 608.50 per cylinder, a cut of Rs. 23.50 per cylinder. The price of subsidised LPG will, however, remain the same.
On Friday, HT had reported that the falling prices of crude in the international market had left the oil marketing companies with a legroom to reduce the price of both petrol and diesel by up to Rs. 4 per litre.