Public sector oil marketing companies announced a cut in retail selling price of petrol by ₹ 1.27 a litre and diesel by ₹1.17 a litre in Delhi on Friday. The price cut is inclusive of State levies and will vary from State to State.
The price change will be effective midnight August 14/August 15. After the change, petrol will cost ₹ 63.20 a litre in Delhi while diesel will cost ₹ 44.95 a litre.
"Since last price change (with effect from August 1, 2015), there has been a decrease in international prices of both petrol and diesel. The rupee-dollar exchange rate has, however, depreciated 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.