Petrol & Diesel prices cut by ₹ 2 per litre

Public sector oil marketing companies announced a cut in the retail selling price of both petrol and diesel by ₹2 a litre in Delhi with a corresponding decrease in other States. The decrease includes State levies and will vary from State to State.

Indian Oil Corporation Ltd on Monday announced a ₹ 2 per litre cut in petrol and diesel prices here – effective from Monday night. Petrol would cost Rs 61 a litre and diesel Rs 50.51 a litre.

The new prices are effective from midnight of December 15-16, 2014.

On December 2, the central government, for the second time in a row, took advantage of falling global prices to increase the excise duty on petrol and diesel.

“The international prices of both petrol and diesel have continued to be on a downtrend. The rupee-dollar exchange rate, however, has appreciated since the last price change and the combined impact of both these factors warrant a decrease in retail selling prices of petrol and diesel,” said Indian Oil in a statement.