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Further relief for commuters as petrol price cut by Rs 1, diesel by Rs 2

India TV Business Desk New Delhi 15 Aug 2016, 23:40:01 PM IST
India TV Business Desk

In further relief to commuters, price of petrol was today slashed by Rs 1 litre and that of diesel by Rs 2 per litre.

After the relaxation, which will come in effect from midnight, petrol in Delhi will cost 60.09 per litre as compared to Rs 61.09 per litre currently, said Indian Oil Corporation in a press release.

Similarly, diesel will cost Rs. 50.27 per litre as against Rs 52.27 per litre currently, the nation's largest fuel retailer added.


"The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant decrease in price of Petrol and increase in price of Diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said. 

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