Petrol price cut by Rs 2.42 a litre
Source: The Sangai Express / Press Trust of India
New Delhi, February 03 2015:
Petrol price was today cut by Rs 2.42 per litre and diesel by Rs 2.25 a litre in step with fall in international oil prices.
In Imphal and other areas excepting Churachandpur and Jiribam, one litre of petrol will now cost Rs 55.48 per litre while diesel will be Rs 45.94 per litre.
At Churachandpur one litre of petrol will now cost Rs 55.51 while at Jiribam it will be Rs 55.90.For diesel the price will be Rs 45.95 per litre (CCpur) and Rs 46.11 per litre (Jiri) .
Petrol in Delhi will cost Rs 56.49 a litre from midnight tonight as compared to Rs 58.91 now.
Similarly, diesel will cost Rs 46.01 per litre as against Rs 48.26 at present.
This is the 10th straight reduction in petrol price since August and sixth in diesel since October.
Despite reductions, petrol will cost more than ATF, which is of superior quality and used in aircraft.
A litre of jet fuel or aviation turbine fuel (ATF) costs Rs 46.51 per litre in Delhi.
New rates of petrol and diesel will be effective midnight tonight, IOC announced here today.
After the price cuts, petrol price is the lowest since September 2010 while diesel is cheapest since March 2013 .
But for these, the cumulative reduction of Rs 17.11 per litre in petrol price in ten cuts since August and Rs 12.96 a litre on diesel since its deregulation in October, would have been higher.
Petrol and diesel prices were last cut on January 17 by Rs 2.42 and Rs 2.25 a litre respectively.
"Since that price revision, international prices of both petrol and diesel have continued to be on a downtrend and the rupee-US dollar exchange rate has appreciated.
The combined impact of both these factors warrant a decrease in retail selling prices of both petrol and diesel," IOC said.