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Petrol Prices to be Down by 49 Paise/Litre & Diesel By Rs. 1.21

Petrol Prices to be Down by 49 Paise/Litre & Diesel By Rs. 1.21. Central Government have decided to lower the price of Petrol and Diesel. After consecutive hike, today government announced to lower the price of petrol to be 49 Paise/litre down and diesel to be down with Rs. 1.21/litre, in Delhi which is to be applicable from mid night onward today itself after 12:00 . Because of benefits drop in international crude oil and product prices, public sector oil marketing companies have cut auto fuel prices in Delhi.

Petrol Prices to be Down by 49 Paise/Litre & Diesel By Rs. 1.21

Petrol Prices to be Reduced

Since the last price change, “the international prices of both petrol and diesel have declined. The Rupee-US Dollar exchange rate has, however, depreciated. The impact of both these factors warrants decrease in retail selling prices of both petrol and diesel,” IOC said in a statement.

Prices of petrol in Delhi will be Rs 60 a litre from tomorrow as against the current Rs 60.49, while diesel will cost Rs 48.50 per litre as compared with Rs 49.71 currently, Indian Oil Corp (IOC), the nation’s largest oil company, said.

Prior to these increases, petrol price had been cut on ten occasions since August 2014 and diesel six times since October 2014. Cumulatively, petrol prices had been cut by Rs 17.11 per litre in ten reductions since August and diesel by Rs 12.96 a litre since its deregulation in October. This trend was reversed when rates were raised on February 16, told ibn live.

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

 

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