State-run Indian Oil Corp on Wednesday said it has reduced prices of transport fuels effective midnight by 80 paise a litre for petrol and by Rs.1.30 a litre for diesel, both including local taxes in Delhi.
The price of petrol in Delhi will be Rs.59.20 per litre, while diesel will be Rs.47.20 a litre from Thursday, with corresponding price revision in other states, IOC said in a statement here.
The trend of international prices of the fuels, and of the rupee-US dollar exchange rate, warranted a downward revision in prices, it added.
