Petrol price cut 58p, diesel slashed 25p per litre

OMCs said the reduction is keeping in sync with global petroleum product prices

Oil Marketing Companies (OMCs) today slashed petrol prices by 58 paise per litre and prices of diesel by 25 paise per litre to align domestic rates with global petroleum product prices.

Post today's revision petrol will be priced at Rs 60.48 per litre while every litre of diesel will cost Rs 46.55 in Delhi.

"The current level of international product prices of Petrol and Diesel and the Rupee-Dollar exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision," the country's largest fuel retailer Indian Oil Corporation said in a statement.

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