File photo of a petrol pump
File photo of a petrol pump
Business & Economy

Price of petrol cut by Rs 2.42/litre, diesel by Rs 2.25 from Feb 4

NetIndian News Network

New Delhi, February 3, 2015

The state-owned oil marketing companies (OMCs) have decided to reduce the retail selling price of petrol by Rs 2.42 per litre and that of diesel by Rs 2.25 per litre in Delhi, including state levies, with effect from midnight tonight.
There will be corresponding decreases in other States, a press release from Indian Oil Corporation said.
The prices of petrol and diesel were last revised downwards with effect from January 17 by Rs 2.42 and Rs 2.25 per litre, respectively, on the back of declining international oil prices.
"Since the above price revision, international prices of both petrol and diesel have continued to be on a downtrend and the INR-USD exchange rate has appreciated. The combined impact of both these factors warrant a decrease in retail selling prices of both petrol and diesel," the release said.
"The movement of prices in international oil market and INR-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes," it added.

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