The price of petrol was cut by Re. 1 a litre and diesel by Rs. 2 a litre on Monday, the fourth reduction since July.
Petrol will now cost Rs. 60.09 a litre in Delhi from midnight as against Rs. 61.09 a litre, said IOC. Diesel will cost Rs. 50.27 a litre as against Rs. 52.27.
“The current level of international product prices of petrol and diesel and rupee-dollar exchange rate warrant a 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.
The movement of prices in the international oil market and rupee—USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOC added.
