Petrol price cut by Rs 1.46 and diesel by Rs 1.53 per litre
NewDelhi,Nov16:Petrol price was on Tuesday cut by Rs 1.46 a litre and diesel by Rs 1.53 per litre, reversing the rising trend of the past few weeks.
The reduction in rates announced by Indian Oil Corporation, the nation’s biggest fuel retailer, is excluding state levies (VAT) and the actual cut will be higher after considering them. Petrol in Delhi will cost Rs 65.93 a litre from mid-night on Tuesday night, Rs 1.69 lower than Rs 67.62 currently. Similarly, a litre of diesel will cost Rs 54.71, Rs 1.7 lower than Rs 56.41 currently.
The reduction in petrol price comes after six increases since September while in the case of diesel, it reverses three hikes of last month. In the six hikes, petrol price had gone up by Rs 7.53 per litre in just over two months while the three price increases totalled Rs 3.90 a litre for diesel.
“The current level of international product prices of petrol and diesel and rupee-US dollar exchange rate warrants decrease in selling price of petrol and diesel, the impact of which is being passed on to consumers with this price revision,” IOC said in a statement.