New Delhi: The price of petrol was reduced by 32 paise per litre, while diesel rate per litre was lowered by 85 paise on Friday.
A decision was taken to this effect on the back of a softening global oil market. Revised prices will take effect from midnight today.
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Petrol in Delhi will cost Rs. 59.03 per litre, as against Rs. 59.35 currently, whereas a litre of diesel will cost Rs 44.18 per litre as against Rs 45.03 until now, after this revision, the Indian Oil Corporation ( IOC) said in a release.
“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision,” the release said.
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“The movement of prices in the 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. (ANI)