Public sector oil marketing companies announced a cut in retail selling price of petrol by 32 paise a litre and diesel by 85 paise a litre in Delhi on Tuesday. The price cut is inclusive of state levies and will vary from state to state.
The price change will be effective midnight January 15/January 16. After the change petrol will cost ₹ 59.03 a litre in Delhi while diesel will cost ₹ 44.18 a litre.
"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," IndianOil said in a statement.
"The movement of prices in the international oil market and rupee-US Dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," it added.