Petrol, diesel prices slashed

Our Bureau New Delhi | Updated on January 24, 2018

A Sunoco station with current gasoline and diesel prices is seen during a fill up in Colesville, Maryland in this February 10, 2015, file photo. U.S. consumer prices rose for a second straight month in March as the cost of gasoline and shelter increased, signs of some inflation that should keep the Federal Reserve on course to start raising interest rates this year. REUTERS/Gary Cameron/Files

Public sector oil marketing companies have cut retail selling price of petrol and diesel by ₹0.31 a litre and ₹0.71 a litre, respectively, in Delhi. The reduction will vary from State to State depending on local taxes and levies. The new prices are effective from midnight of June 30/July 1. After the change, petrol will cost ₹66.62 a litre in Delhi while diesel will be ₹50.22. “Since last price change (on June 16), there has been a decrease in international prices of both petrol and diesel. Rupee-dollar exchange rate has appreciated during this period. Combined impact of both these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease,” IndianOil said in a statement. “The movement of prices in 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,” the company added.

Published on June 30, 2015

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