Petrol price slashed by 58 paise per litre, diesel by 25 paise per litre

New Delhi: Petrol and diesel prices on Monday were cut by 58 paise per litre and 25 paise a litre respectively, reversing the trend of increasing rates, on global cues. The new prices will come into effect on Tuesday.

Petrol will cost Rs 60.48 per litre in Delhi down from Rs.61.06 a litre previously. Similarly, a litre of diesel will cost Rs 46.55 from Tuesday onwards, down from Rs 46.80, state-owned Indian Oil Corporation (IOC), said in a statement.

“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision,” IOC said in a release.

“The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” the release added.

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