Petrol price cut by INR 1.46 per litre, diesel cheaper by INR 1.53 per litre

State oil firms have cut the prices of petrol by INR 1.46 a litre and of diesel by INR 1.53 a litre.

The new prices, effective Wednesday, were decided in the fortnightly review to align local prices with international rates.

Indian Oil Corp, country’s largest fossil fuel retailer, said in a statement, “The current level of international product prices of petrol and diesel, and rupee-dollar 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.”

Petrol price cut by INR 1.46 per litre, diesel cheaper by INR 1.53 per litre

The company said that the movement of prices in the international oil market and the exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.

Source: https://goo.gl/RxO5A7