Petrol price cut by 70 paise a litre

The price of petrol in Delhi will be lowered by 85 paise to Rs. 71.41 a litre. This follows a 75 paise a litre reduction on April 1, which translated into a cut of 90 paise in Delhi to Rs. 72.26.

The price of petrol was on Tuesday cut by 70 paise a litre, excluding local levies, the second reduction in rates this month. File photo

The price of petrol was on Tuesday cut by 70 paise a litre, excluding local levies, the second reduction in rates this month as appreciation of the rupee against dollar made oil imports cheaper.

The reduction, effective Tuesday midnight, excludes local sales tax or VAT and the actual cut will be higher, varying from city to city.

The price of petrol in Delhi will be lowered by 85 paise to Rs. 71.41 a litre. This follows a 75 paise a litre reduction on April 1, which translated into a cut of 90 paise in Delhi to Rs. 72.26.

In Mumbai, petrol will cost Rs. 80 a litre from Wednesday as against Rs. 80.89 currently.

Announcing the rate cut, Indian Oil Corp, the nation’s largest fuel retailer, said, “The continued appreciation of the rupee has resulted in reduction in petrol prices.”

There will be no change in diesel prices as oil firms revise rates of the nation’s most consumed fuel on a monthly basis.