Commodities

IndianOil’s 1-paisa cut fuels heartburn in consumers

Our Bureau | | Updated on: Dec 06, 2021

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Firm blames ‘glitch’ for earlier announcement of 60-paise cut

Auto fuel consumers were left fuming on Wednesday after IndianOil cut petrol and diesel prices by a measly one paisa each. The state-owned oil refinery and marketer initially announced, at 7 am, a 60 paise/litre cut in petrol price and 56-paise/litre cut in diesel price in the national capital. However, the relief for consumers who are reeling under record-high auto fuel prices, was short-lived..

Barely three hours later, IndianOil revised its statement and said that both the auto fuels will be sold at just one paisa lower than Tuesday’s price.

Petrol price in the capital stood at ₹ 78.42 a litre, while diesel was sold at ₹69.30 a litre on Wednesday. Petrol prices had increased by ₹3.8 a litre and diesel by ₹3.38 over the past fortnight.

The one-paisa reduction comes after 16 consecutive price increases

Published on May 30, 2018
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