Petrol cheaper by Rs 2.16 per litre, diesel by Rs 2.10
Source: The Sangai Express / PTI
Imphal, May 16 2017:
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 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.
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 INRUSD
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.