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Public sector oil marketing companies have cut retail selling price of petrol and diesel by ₹0.31 a litre and ₹0.71 a litre, respectively, in Delhi. The reduction will vary from State to State depending on local taxes and levies. The new prices are effective from midnight of June 30/July 1. After the change, petrol will cost ₹66.62 a litre in Delhi while diesel will be ₹50.22. “Since last price change (on June 16), there has been a decrease in international prices of both petrol and diesel. Rupee-dollar exchange rate has appreciated during this period. Combined impact of both these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease,” IndianOil said in a statement. “The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” the company added.
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