After 16 days of consecutive hikes, petrol, diesel prices cut by ONE paisa

After 16 days of consecutive hikes, the prices of petrol and diesel were marginally reduced on Wednesday. Indian Oil Corporation Limited (IOCL) reduced the petrol prices by 1 paisa per litre.

The current price of petrol was at Rs 78.42 per litre in Delhi and Rs 86.23 per litre in Mumbai. In Kolkata, the revised price of petrol stood at Rs 71.85 per litre while in Chennai the new price was Rs 73.17 per litre. 

The price of diesel in the national capital Delhi and Mumbai stood at Rs 69.30 per litre and Rs 73.78 per litre, respectively.

Earlier, India woke up to some respite on Wednesday as IOCL announced 60 paise cut in the prices of petrol in the national capital Delhi and 59 paise cut in Mumbai.

However, the cheer was short-lived as the 60 paise price reduction showed on the IOCL website was an error and the actual price cut was just 1 paisa per litre.

 “The reduction was supposed to be 1 paisa but due to a clerical error the price prevalent on May 25 was communicated as today’s price,” a senior official of Indian Oil Corp (IOC) said in a statement.