Petrol and diesel prices down by more than Rs 2 per litre
May 16, 2017, 13:31 IST
State-run oil companies have slashed the prices of petrol and diesel by more than Rs 2 per litre after the fortnightly revision so that local prices can be aligned with international rates.
Petrol has been made cheaper by Rs 2.16/litre, while prices of diesel have been reduced by Rs 2.10/litre, says a statement by Indian Oil Corp, country’s biggest fossil fuel retailer.
Also read: State-run oil firms can now raise prices of kerosene and cooking gas every month
Retail prices would be reduced as per state levies.
'The current level of international product prices of Petrol & Diesel and INR-USD 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,' Indian Oil said.
Also read: Now anyone can have a petrol pump in India!
It added that it would continue keeping a close eye on the movement of prices in the international oil market, along with INR-USD exchange rate. This developing trend would also be reflected in all the price changes in the future, it added.
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Petrol has been made cheaper by Rs 2.16/litre, while prices of diesel have been reduced by Rs 2.10/litre, says a statement by Indian Oil Corp, country’s biggest fossil fuel retailer.
Also read: State-run oil firms can now raise prices of kerosene and cooking gas every month
Retail prices would be reduced as per state levies.
'The current level of international product prices of Petrol & Diesel and INR-USD 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,' Indian Oil said.
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It added that it would continue keeping a close eye on the movement of prices in the international oil market, along with INR-USD exchange rate. This developing trend would also be reflected in all the price changes in the future, it added.