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Petrol/Diesel Prices in India Slashed

Indian Oil Marketing companies have announced the latest news about the petrol price. As per the latest reports the petrol price cut by Rs 3.77 per litre and diesel rate by Rs 2.91 a litre as the first change in the rates in two-and-a-half months.

The price cut of the petrol is done by following the fluctuations in the crude prices between producers on one side and the rising of US stockpiles on another side. The new petrol prices will be effective from the today from midnight.

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The current price of the petrol is Rs. 71.14 litre in Delhi and Diesel at Rs. 59.02 per litre. According to the reports, the petrol price will now reduce to 3.77 per litre by excluding state levies.

“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.

Petrol price which was revised is on 16th January where the price is cut by 54paise, and the diesel price is hiked by Rs. 1.20 litre.

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