Petrol price cut by Rs 1.27/litre; diesel by Rs 1.17

New Delhi: Petrol price was today cut by Rs 1.27 per litre and diesel by Rs 1.17 a litre, the second reduction in rates this month following global cues.  The new rates will be effective
petrol price cut by rs 1.27/litre diesel by rs...
PTI 14 Aug 2015, 23:24:47 PM IST

New Delhi: Petrol price was today cut by Rs 1.27 per litre and diesel by Rs 1.17 a litre, the second reduction in rates this month following global cues.  The new rates will be effective midnight tonight, said nation's largest oil firm Indian Oil Corp (IOC) in a statement.

Petrol in Delhi will cost Rs 63.20 per litre from tomorrow as against Rs 64.47 a litre currently. A litre of diesel will cost Rs 44.95 as compared to Rs 46.12 currently.  

Rates were last cut on August 1 when petrol price was reduced by Rs 2.43 per litre and diesel by Rs 3.60 a litre.  “Prices of petrol and diesel were last revised w.e.f. 1st August. Since last price change, there has been a decrease in international prices of both petrol and diesel.

INR-USD exchange rate has, however, depreciated during this period.  “Combined impact of both these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease,” IOC said in the statement.

Last month, the price of petrol was cut on July 1 by 31 paise per litre and diesel by 71 paise a litre. This was followed by a Rs 2 per litre cut in rates of both petrol and diesel, excluding local sales tax, from July 16 but consumers in Delhi were deprived of the benefit as the Delhi government raised VAT.

As a result, petrol price in Delhi went up by 28 paise a litre after hike in VAT or sales tax on the fuel from 20 to 25 per cent.

Rates of diesel, on which VAT was raised from 12.5 per cent to 16.6 per cent, saw a smaller reduction of 50 paise per litre.

“The movement of prices in 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,” IOC said.


Following are the revised rates of petrol and diesel in four metros after oil firms cut prices with effect from midnight tonight:

PETROL
          Current    PriceRevised      PriceDecrease
Delhi        64.47       63.20               1.27
Kolkata     69.15       68.10               1.05
Mumbai     69.51       68.24               1.27
Chennai      64.77       63.49               1.28

DIESEL
            Current        PriceRevised      PriceDecrease
Delhi       46.12       44.95                 1.17
Kolkata    49.66      48.66               1.00
Mumbai     51.29     50.04               1.25
Chennai     47.30      46.08               1.22

 

Related Tags: PetrolDieselPrice Cut

You May Like

   
 

More from india