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IndiaPetrol price cut by Rs 1.46, diesel by Rs 1.53

Petrol price cut by Rs 1.46, diesel by Rs 1.53


Petrol price cut by Rs 1.46, diesel by Rs 1.53

New Delhi, November 15: Indian Oil Corporation has cut petrol prices by Rs 1.46 a litre and diesel by Rs 1.53, the company said on Tuesday in a decision that reverses the hike of the past few weeks.

The price cut — which the company, 's biggest fuel retailer, announced — excludes state levies (VAT).

The fall in petrol prices comes after six hikes since September, which took the cost of the fuel to Rs 7.53 a litre. The cut also reverses three diesel price hikes.

“The current level of product prices of petrol and diesel and rupee-US dollar exchange rate warrants decrease in selling price of petrol and diesel, the impact of which is being passed on to consumers with this price revision,” the company said in a statement.

Petrol price was last hiked by 89 paise per litre and diesel by 86 paise on November 1. — PTI

The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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