News Nation Logo

Petrol price cut by Rs 2.16, diesel by Rs 2.10 per litre from Monday midnight

The Reduction, Which Will Be Effective From Midnight Monday, Comes On Back Of A Marginal 2 Paise A Litre Increase In Petrol And 52 Paise Per Litre Hike In Diesel Rates Effected From May 1.

PTI | Updated on: 15 May 2017, 11:14:58 PM
Petrol price cut by Rs 2.16, diesel by Rs 2.10 from Monday midnight

New Delhi:

The Indian Oil Corporation has decided to cut down petrol price by Rs 2.16 per litre and diesel prices by Rs 2.10. The prices would be effective from Monday midnight. 

The reduction, which will be effective from midnight Monday, comes on back of a marginal 2 paise a litre increase in petrol and 52 paise per litre hike in diesel rates effected from May 1.

 Prior to that, petrol price was hiked by Rs 1.39 per litre and diesel by Rs 1.04 a litre from April 16. Indian Oil Corp (IOC), the nation's largest fuel retailer, said the price of petrol is being reduced by Rs 2.16per litre and that of diesel by Rs 2.10 - both excluding state levies.

Also Read: Renault Duster petrol with CVT launched, check price and features

The actual reduction in price will be more after taking into account local VAT.

Petrol in Delhi will cost Rs 65.32 a litre from tomorrow as against Rs 68.09 currently. Similarly, a litre of diesel will be priced at Rs 54.90 as compared to Rs 57.35 at present.

“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant 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 in a statement.

The movement of prices in the international oil market and INR-USD exchange rate will continue to be monitored closely and developing trends of the market will be reflected in future price changes, it said. 

For all the Latest India News, Download News Nation Android and iOS Mobile Apps.

First Published : 15 May 2017, 11:03:00 PM

Related Tags:

Petrol Price Diesel Prices