Petrol price will be cut by 50 paise per litre with effect from midnight tonight Saturday Oct 31,2015 while there will be no change in diesel rates.
Petrol price was last revised on September 1 when it was cut by Rs 2 per litre to Rs 61.20 in Delhi.
On the contrary, diesel price was on October 15 hiked by 95 paise per litre. The second increase in price, diesel came at Rs 45.90 per litre with as against Rs 44.95 earlier.
State-owned fuel retailers -- Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) -- revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.
Petrol price was last revised on September 1 when it was cut by Rs 2 per litre to Rs 61.20 in Delhi.
On the contrary, diesel price was on October 15 hiked by 95 paise per litre. The second increase in price, diesel came at Rs 45.90 per litre with as against Rs 44.95 earlier.
State-owned fuel retailers -- Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) -- revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.
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