Petrol price slashed by 50 paise/litre, diesel by 46 paise/litre

New Delhi: Petrol and diesel prices on Tuesday were cut by 50 paise per litre and 46 paise a litre respectively. The new prices will be effective from Tuesday-Wednesday midnight. Notably, this is the second reduction in the last 15 days. Oil companies had last cut the petrol and diesel prices by 58 paise a litre and 25 paise a litre respectively on December 1.

Petrol will cost Rs 59.98 per litre in Delhi down from Rs 60.48 a litre previously. Similarly, a litre of diesel will cost Rs 46.09 from Tuesday onwards, down from Rs 46.55, 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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