NEW DELHI: Following a fall in the international crude oil market prices, Indian Oil marketing firm ‘Indian Oil Corp’ (IOC) had on Thursday announced a reduction in the Petrol and Diesel prices, with effective from today midnight.
The IOC said in a statement that the Petrol prices in Delhi will be reduced by Rs 0.63 per liter, which also includes the state levied tax. A corresponding revision of prices will be done in other states, based on the taxes levied by each state.
With the reduction in Petrol prices, one liter of Petrol in Delhi will now cost Rs 59.35 per liter.
On the other hand, the IOC had also reduced the Diesel prices by Rs 1.06 per liter. After the decrease in Diesel prices, one liter of Diesel in Delhi will now cost Rs 45.03.
“The current exchange rate of rupee-US dollar and the current price of crude oil in the international market, resulted in the decrease in prices and the impact of it is passed on to the consumers”, the IOC statement said.
The Indian Oil Corp revises the Petrol and Diesel prices every fortnight based on the Crude oil and US dollar-rupee exchange rate in the international market.
