Fuel prices cut: Petrol cheaper by Rs 2.16 per litre, diesel by Rs 2.10 - Hindustan Times
close_game
close_game

Fuel prices cut: Petrol cheaper by Rs 2.16 per litre, diesel by Rs 2.10

Press Trust of India, New Delhi | By
May 15, 2017 11:37 PM IST

Indian Oil Corp said the price of petrol is being reduced by Rs 2.16 per litre and that of diesel by Rs 2.10 from midnight.

Petrol price was cut by Rs 2.16 per litre and diesel by Rs 2.10 a litre on Monday, reversing the four week trend of rising rates.

The prices of petrol and diesel were cut by over Rs 2.(AFP File Photo)
The prices of petrol and diesel were cut by over Rs 2.(AFP File Photo)

The reduction, which will be effective from midnight Tuesday, comes on back of a marginal 2 paise a litre increase in petrol and 52 paise per litre hike in diesel rates effected from May 1.

Hindustan Times - your fastest source for breaking news! Read now.

Prior to that, petrol prices were hiked by Rs 1.39 per litre and diesel by Rs 1.04 a litre from April 16.

Indian Oil Corp (IOC), the nation’s largest fuel retailer, said the price of petrol is being reduced by Rs 2.16 per litre and that of diesel by Rs 2.10 -- both excluding state levies.

Actual reduction in price will be more after taking into account local VAT.

Petrol in Delhi will cost Rs 65.32 a litre from Tuesday as against Rs 68.09 currently. Similarly, a litre of diesel will be priced at Rs 54.90 as compared to Rs 57.35 at present.

“The current level of international product prices of petrol and diesel and INR-USD 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,” IOC said in a statement.

The movement of prices in the international oil market and rupee-dollar exchange rate will continue to be monitored closely and developing trends of the market will be reflected in future price changes, it said.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On