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Petrol price slashed by 32 paise, diesel by 85 paise

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New Delhi: With oil in free fall again, state-run Indian Oil Corp (IOC) on Friday announced under one rupee cuts in transport fuel prices, effective midnight, with petrol prices per litre being reduced by Rs.0.32 and diesel by Rs.0.85, both at Delhi, with corresponding price revision in other states.

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,

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 the 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 the 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.

(Inputs from IANS)

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Petrol, Diesel price to be slashed from today

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New Delhi, Nov 30: The three state-run oil marketing companies on Monday reduced petrol and diesel prices. Petrol and diesel will be cheaper by Rs.0.58 and Rs.0.25 per liter, respectively in the national capital.

The reduction will be effective from Today.

Making the fortnightly revision in retail prices, Indian Oil Corp (IOC) also exclaimed their concerns regarding this price reduction of petrol and diesel.

The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision.

Allowing for local levies, the IOC said the price of petrol per liter from Tuesday will be Rs.60.48 in Delhi, Rs.65.93 in Kolkata, Rs.67.55 in Mumbai, and Rs.60.80 in Chennai.

Diesel will cost Rs.46.55 a liter in Delhi, Rs.50.10 in Kolkata, Rs.53.78 in Mumbai, and Rs.47.77 in Chennai.

The Indian basket of crude oils closed on the previous trading day on Friday at $41.01 a barrel, after having dropped below $40 during the fortnight in consideration.

(Inputs from IANS)

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