Business & Economy

Petrol, diesel prices cut by Rs 2/litre, excluding state levies

NetIndian News Network

New Delhi, July 15, 2015

The public sector oil marketing companies (OMCs) today decided to decrease the basic retail prices of petrol and diesel by Rs 2 per litre, excluding state levies, with effect from midnight tonight.
The prices of petrol and diesel were last revised with effect from July 1.
"Since last price change, there has been a decrease in international prices of both petrol and diesel. INR-USD exchange rate has also appreciated during this period. Combined impacts of both these factors warrant the said downward revisions," a press release from Indian Oil Corporation (IOC) said.
"The movement of prices in international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," it added.
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