In what can only be deemed as good news for the motorists, oil companies have dropped the prices of both petrol and diesel by Re 1 and Rs 2 per litre respectively. The revised prices have already been implemented.
It wasn't long ago (July 31) when fuel prices were last revised. Back then, the petrol rate was dropped by Rs 1.42 a litre whereas prices of diesel were significantly cut by Rs 2.01 per litre. Now, another price cut has been issued thanks to a positive exchange rate.
"The current level of international product prices of petrol and diesel and rupee-dollar exchange rate warrant a decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision," said Indian Oil Corp.
A litre of petrol now costs Rs 60.09 in Delhi as against Rs 61.09 previously while diesel comes in at Rs 50.27 per litre compared to Rs 52.27 before the price cut.
