Petrol cut by 32 paise, Diesel by 85 paise per litre
Updated: Jan 16, 2016 11:46:27am
New Delhi Jan 16 (KNN) In an effort to give some relaxation to the consumers, Government has slashed the rates of petrol and Diesel by 32 paise and 85 paise per litre respectively. It is the second time when Government has cut down the prices of Petrol and Diesel in January; however the government had on December 17 raised excise duty on petrol by 30 paise and that on diesel by Rs 1.17 per litre.
The global oil prices has gone down , as a result of this it is the fourth reduction in rates in six weeks. Petrol in Delhi will cost Rs 59.03 per litre with effect from midnight tonight as against Rs 59.35 per litre currently.
A litre of diesel will cost Rs 44.18 as opposed to Rs 45.03 presently, said Indian Oil Corp (IOC), the nation's biggest fuel retailer. This is fourth reduction in rates since December 1.
Rates were on that day cut by 58 paise a litre in case of petrol and by 25 paise in diesel. This was followed by a 50 paise a litre reduction in price of petrol from December 16 and 46 paise in case of diesel.
Petrol price, on January 1, was cut by 63 paise per litre and diesel's by Rs 1.06 a litre. The reduction would have been more but for government raising excise duty on the two auto fuel to take away some of the gains from the crude oil prices slumping to 12-year low of under $30 per barrel.
An Indian Oil Corporation (IOC) statement said "The current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision,".
"The movement of prices in the international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," the statement added. (KNN Bureau)
The global oil prices has gone down , as a result of this it is the fourth reduction in rates in six weeks. Petrol in Delhi will cost Rs 59.03 per litre with effect from midnight tonight as against Rs 59.35 per litre currently.
A litre of diesel will cost Rs 44.18 as opposed to Rs 45.03 presently, said Indian Oil Corp (IOC), the nation's biggest fuel retailer. This is fourth reduction in rates since December 1.
Rates were on that day cut by 58 paise a litre in case of petrol and by 25 paise in diesel. This was followed by a 50 paise a litre reduction in price of petrol from December 16 and 46 paise in case of diesel.
Petrol price, on January 1, was cut by 63 paise per litre and diesel's by Rs 1.06 a litre. The reduction would have been more but for government raising excise duty on the two auto fuel to take away some of the gains from the crude oil prices slumping to 12-year low of under $30 per barrel.
An Indian Oil Corporation (IOC) statement said "The current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision,".
"The movement of prices in the international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," the statement added. (KNN Bureau)
Loading...
