REUTERS - Indian Oil Corp (IOC) will decrease the price of diesel by about 1 percent from Wednesday and that of gasoline by 0.8 percent, reflecting changes in global fuel prices.
The retail price of diesel will be cut by 0.46 rupees ($0.0069) a litre, the company said in a statement on Tuesday.
The retail price of gasoline will be reduced by 0.50 rupees a litre.
India's three state-controlled oil companies, IOC, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, tend to adjust retail prices for their fuels in concert.
(Reporting by Sankalp Phartiyal in New Delhi, editing by Louise Heavens)
