Reversing the trend of previous weeks, petrol price cut by Rs 1.46, diesel by Rs 1.53 per litre

On Tuesday, petrol price was cut by Rs 1.46 a litre and diesel by Rs 1.53 per litre, reversing the rising trend of the past few weeks.

PTI November 15, 2016 21:17:10 IST
Reversing the trend of previous weeks, petrol price cut by Rs 1.46, diesel by Rs 1.53 per litre

New Delhi: On Tuesday, petrol price was cut by Rs 1.46 a litre and diesel by Rs 1.53 per litre, reversing the rising trend of the past few weeks.

The reduction in rates announced by Indian Oil Corporation, the nation's biggest fuel retailer, is excluding state levies (VAT) and the actual cut will be higher after considering them.

Petrol in Delhi will cost Rs 65.93 a litre from mid-night tonight, Rs 1.69 lower than Rs 67.62 currently.

Similarly, a litre of diesel will cost Rs 54.71, Rs 1.7 lower than Rs 56.41 currently.

Reversing the trend of previous weeks petrol price cut by Rs 146 diesel by Rs 153 per litre

Representational image. AFP

The reduction in petrol price comes after six increases since September while in the case of diesel, it reverses three hikes of last month.

In the six hikes, petrol price had gone up by Rs 7.53 per litre in just over two months while the three price increases totalled Rs 3.90 a litre for diesel.

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

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

Petrol price was last hiked by 89 paise per litre, excluding state levies on 1 November. Diesel rate on that day was raised by 86 paise a litre, excluding state levies.

Updated Date:

also read

Petrol, diesel prices on 25 October: Fuel rates remain steady after going north for five days but still at record high
Business

Petrol, diesel prices on 25 October: Fuel rates remain steady after going north for five days but still at record high

Petrol and diesel prices on 25 October 2021: Petrol price in Delhi stands at Rs 107.59 per litre while diesel is available for Rs 96.32. In Mumbai, petrol is retailing at Rs 113.46 while diesel costs Rs 104.38

Petrol, diesel prices on 24 October: Fuel rates hiked for fifth straight day, check rates here
Business

Petrol, diesel prices on 24 October: Fuel rates hiked for fifth straight day, check rates here

Petrol and diesel prices on 24 October 2021: Petrol price in Delhi stands at Rs 107.59 per litre while diesel is available for Rs 96.32. In Mumbai, petrol is retailing at Rs 113.46 while diesel costs Rs 104.38

Petrol, diesel prices on 21 October: Fuel rates hit new all-time high
India

Petrol, diesel prices on 21 October: Fuel rates hit new all-time high

Petrol and diesel prices: Petrol price in Delhi stands at Rs 106.54 per litre while diesel is available for Rs 95.27. In Mumbai, petrol is retailing at Rs 112.44 while diesel costs Rs 103.26