Petrol price was on Thursday July 31,2014 cut by Rs. 1.09 per litre, the second
reduction in three-and-half-months, while diesel rates were hiked by 56
paise a litre.
The revisions will be effective midnight on Thursday, Indian Oil Corp, the nation’s largest oil firm, announced.
Petrol in Delhi will cost Rs. 72.51 per litre from Friday as against Rs.
73.60 a litre currently. Similarly, diesel will be priced at Rs. 58.40
per litre from Friday as compared to Rs. 57.84 currently.
Petrol price was reduced following drop in international oil rates and
rupee depreciation against US dollar, making imports cheaper.
For the same reason, price of bulk diesel, which unlike the subsidised fuel available at petrol pumps is priced at market rate, has been cut by 72 paise per litre
Note
Petrol price was last cut by 70 paise on April 16,2014 in line with declining trend in the international market
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