Friday 22 March 2019
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Not an April Fool’s joke: Petrol price slashed by Rs 3.77, diesel prices down by Rs 2.91

Oil marketing companies today slashed petrol price by Rs 3.77 per litre and diesel by Rs 2.91 per litre. The decision comes following fluctuations in crude prices.
“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,” an official statement said.
The revised prices will be effective from this midnight.
Petrol currently costs Rs 71.14 a litre in Delhi and diesel is priced at Rs 59.02 per litre.
This is the first change in rates in two-and-a-half months.
Petrol price will be cut by Rs 3.77 per litre, excluding state levies, said Indian Oil Corp (IOC). Actual decrease will be larger after taking into account the local levies. Similarly, diesel rate was cut by Rs 2.91, excluding state levies.
Rates were last revised on January 16 when price of petrol went up by 54 paise. On that date, diesel rates were hiked by Rs 1.20 a litre.
IOC said the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.
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