Petrol and diesel prices were cut by 58 paise per litre and 25 paise a litre respectively on Monday, with the new prices to come into effect on Tuesday.
Petrol will cost Rs 60.48 per litre in Delhi down from Rs.61.06 a litre previously. Similarly, diesel will cost Rs 46.55 per litre 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.
