For the second time in two-weeks, the public sector oil marketing companies have cut the retail selling prices of diesel.

The companies have cut diesel as well as petrol prices by about ₹ 2 a litre effective midnight October 31/November 1.

Diesel pricing was deregulated on October 18, when the Government had brought down the retail prices by about ₹3 a litre.

In a statement issued here on Friday, Indian Oil Corporation said that retail selling price of petrol and diesel (inclusive of taxes) in Delhi have been cut by ₹2.41 a litre and ₹2.25 a litre respectively.

The decrease will vary from State to State depending on local levies and taxes.

From October 31/November 1 midnight, diesel will be sold at ₹53.35 a litre in Delhi and petrol will be sold at ₹ 64.24 a litre. In Mumbai, diesel will now be sold at ₹ 61.04 a litre and petrol at ₹ 71.91 a litre.

In Chennai retail diesel prices after the drop will be ₹56.84 a litre and petrol will be ₹67.01 a litre and in Kolkata, diesel will be ₹57.95 a litre and petrol will be ₹ 71.68 a litre.

Gas price hiked Meanwhile, Mahanagar Gas Ltd today hiked CNG prices by ₹4.50 to ₹43.45/kg and domestic piped natural gas (PNG) by ₹2.49 to ₹ 26.58/SCM, in Mumbai effective from midnight today following the 33 per cent hike effected by the Centre.

Earlier this month, the Centre had increased domestic natural gas price by 33 per cent from $4.20/ mmbtu to $5.61/mmbtu from November 1.

Status quo at IGL But Indraprastha Gas Ltd (IGL), the city gas distributor for CNG and PNG in the National Capital Region of Delhi said on Friday that it will not increase prices. “Despite the revision in domestic gas prices announced by the Government with effect from November 1, IGL has decided not to revise the retail price of CNG and domestic PNG in the interest of its consumers in Delhi, Noida, Greater Noida and Ghaziabad,” said Narendra Kumar, Managing Director of IGL.

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