Fall in global oil prices resulted in lowering of Petrol price by Rs2 per litre and diesel by Rs0.50 a litre on Monday. This is the third reduction in rates this month. The new rates will be effective midnight tonight, said Indian Oil Corp (IOC), the nation’s largest fuel retailer.
Price of petrol in Delhi has been cut by Rs2 per litre, including local levies, and will cost Rs61.20 per litre from Tuesday as against Rs63.20 currently. A litre of diesel will cost Rs44.45 as compared to Rs44.95 currently.
Oil firms had last cut petrol price by Rs1.27 a litre and diesel by Rs1.17 per litre with effect from August 15.