The price of petrol is cut by ₹3.77 per litre and that of diesel by ₹2.91 a litre, the first change in rates in two-and-a-half months.
State-owned oil firms cut rates with effect from midnight tonight. Petrol currently costs ₹71.14 a litre in Delhi and Diesel is priced at ₹59.02 per litre.
Petrol price will be cut by ₹3.77 per litre, excluding state levies, said Indian Oil Corp (IOC). Actual decrease will be larger after taking into account the local levies.
Similarly, diesel rate was cut by ₹2.91, excluding state levies.
Rates were last revised on January 16 when price of petrol went up by 54 paise. On that date, diesel rates were hiked by ₹1.20 a litre.
“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement.
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