Petrol and diesel prices were reduced on Wednesday, effective from 6 am June 16, marking a decrease in fuel prices after a hike two weeks back. Petrol price was decreased by Rs. 1.12 per litre and diesel price was decreased by Rs.1.24 per litre, tracking global crude oil prices in the trailing fortnight.
Petrol in Delhi will cost Rs. 65.48 per litre from tomorrow as against Rs. 66.91 a litre currently. Similarly, a litre of diesel will be priced at Rs. 54.49, as compared to Rs. 55.94 at present, according to the nation’s largest fuel retailer, Indian Oil Corp (IOC).
“The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant decrease in selling price of Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said.
The decrease in price, comes on the back of am Rs 1.23 per litre hike in petrol price and Rs. 0.89 a litre hike in diesel prices effected on May 16.
Petrol, diesel prices are set to be revised daily starting June 16. Oil companies and retailers will change fuel rates across the country every day depending on the fluctuations in international oil prices to petrol pump owners and end customers.