In fourth reduction in rates since July 2016, the Aam Aadmi gets another breather as the state-run Indian Oil Corp (IOC) has once again cut the price of transport fuels. It will be effective immediately from Tuesday, of petrol by Re 1 a litre and of diesel by Rs 2, both at Delhi, with corresponding decrease in other states. These changes in prices of petrol and diesel comes amidst the recent fluctuation in global oil prices
Making its previous fortnightly revision in fuel prices on August 1, the IOC had cut petrol by Rs 1.42 a litre and diesel by Rs 2.01 paise, both at Delhi.
Petrol per litre from Tuesday costs Rs 60.09 in Delhi, Rs 64.18 in Kolkata, Rs 65.04 in Mumbai and Rs 59.65 in Chennai.
Similarly, diesel will cost Rs 50.27 in Delhi, Rs 52.86 in Kolkata, Rs 55.64 in Mumbai and Rs 51.65 in Chennai.
The Indian basket of crude oils closed trade on Thursday at $41.82 a barrel, lower than $41.97 on the previous day, as per official data.
“The current level of international product prices of petrol and diesel and rupee-dollar exchange rate warrant a 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 .