Petrol price cut 32 paise, diesel price increased 28 paise per liter

The Oil Marketing Companies (OMCs) today slashed prices of petrol by 32 paise per liter and raised diesel rates by 28 paise per liter in order to align the domestic rates of the automobile fuels with global benchmarks.

A driver waits in a taxi for his turn to fill up his tank with diesel at a fuel station in Kolkata. Photo: Reuters

After today's price change, to be effective from tonight, petrol will be priced at Rs 59.63 per liter including state taxes in Delhi while a liter of diesel will cost Rs 44.96 per liter. 

"The current level of international product prices of petrol and diesel and the Rupee-Dollar exchange rate warrant decrease in price of petrol and increase in price of diesel, the impact of which is being passed on to consumers with this price revision," Indian Oil Corporation (IOC), the nation's largest fuel retailer said.

It added the movement of prices in the international oil market and the Rupee-Dollar exchange rate will continue to be monitored closely and the developing trends of the market will be reflected in future price changes.

Petrol and diesel prices were last revised on 1 February through 4 paise per liter cut in petrol prices to Rs 59.95 per liter and 3 paise per liter cut in diesel rates to Rs 44.68 per liter.