Public sector oil marketing companies announced a cut in the retail selling price of petrol and diesel by ₹ 2.42 a litre for petrol and ₹ 2.25 a litre for diesel, in Delhi with a corresponding decrease in other states. The decrease includes state levies and will vary from state to state.
The new prices are effective from midnight of February 3/4.
“International prices of both petrol and diesel have continued to be on a downtrend and the rupee-dollar exchange rate has appreciated. The combined impact of both these factors warrants a decrease in retail selling prices of both petrol and diesel,” Indian Oil said in a statement.
“The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes,” the company added.