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Petrol prices fall by 32 paise, diesel by 85 paise

India TV News Desk 15 Jan 2016, 21:52:15 IST
India TV News Desk

New Delhi: Indian Oil Corporation has announced less than one rupee cuts in transport fuel prices in Delhi, with corresponding price revision in other states. With effect from midnight, petrol prices per litre are being reduced by Rs 0.32 and diesel by Rs 0.85. 

"The current level of international product prices of petrol and diesel and rupee-US dollar exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision," IOC said in a statement.

Petrol per litre from Saturday will cost Rs.59.03 in Delhi, Rs.64.87 in Kolkata, Rs.66.09 in Mumbai and Rs.59.45 in Chennai.

The price of diesel per litre will be Rs.44.18 in Delhi, Rs.48.07 in Kolkata, Rs.51.25 in Mumbai and Rs.45.36 in Chennai.

Transport fuel prices were last cut on January 1, with petrol prices per litre being reduced by Rs.0.63 and diesel by Rs.1.06, both at Delhi, with corresponding price revision in other states.

The Indian basket of crude oils, composed of 73 percent sour grade Dubai and Oman crudes and the rest by sweet grade UK Brent, closed trading on Thursday at $26.43 for a barrel of nearly 160 litres.

(With inputs from IANS)