New Delhi: On Friday, Petrol price was cut down by Rs 0.74 per litre and
diesel by Rs 1.30, reversing the two-month trend of rising rates.
As a result of the change, from the intervening midnight between April
15 and 16, petrol in Delhi will cost Rs 61.13 per litre as against Rs 61.87
currently, said Indian Oil Corporation (IOC), the nation's largest fuel
retailer.
A statement made by Indian Oil said: “The current level of international
product prices of petrol and diesel and rupee-dollar exchange rate warrant
decrease in price of petrol and diesel, the impact of which is being passed on
to the consumers with this price revision. The movement of prices in the
international oil market and rupee-dollar exchange rate shall continue to be
monitored closely and developing trends of the market will be reflected in
future price changes.”
State-owned fuel retailers IOC, Bharat Petroleum Corporation Ltd (BPCL)
and Hindustan Petroleum Corporation Ltd (HPCL) revise rates of the fuel on 1st
and 16th of every month based on the average oil price and the foreign exchange
rate in the preceding fortnight.
The prices of petrol per litre are as under in the four metros stand at
Delhi - Rs 61.13, Kolkata - Rs 64.90, Mumbai -Rs 65.63, Chennai - Rs 60.58.
The prices of diesel per litre are as under
in the four metros stand at Delhi - Rs 48.01, Kolkata - Rs 50.48, Mumbai -Rs 53.49,
Chennai - Rs 48.76.
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