Petrol, diesel prices cut

Petrol, diesel prices cut

The state-owned oil companies have reduced petrol and diesel prices in Karnataka by Rs 1.50 and 75 paise respectively.

The cut, effective from Wednesday, comes just two days after the upward revision of petrol prices by the oil companies. As per the revised rates, petrol will now cost Rs 75.91 in Bangalore, and diesel will cost Rs 44.98. Prices of LPG, however, remain unchanged.

The revision comes in the wake of oil firms recalibrating rates to reflect changes in local levies.

The exercise also resulted in petrol and diesel prices being reduced in 10 other states, including Goa, Gujarat and Odisha. Besides, LPG prices were reduced in 12 states, including Gujarat, Tamil Nadu, West Bengal and Odisha.

While price of petrol is unchanged in Delhi, Kolkata would see an increase of Rs 2.52 a litre, pushing the price up to Rs 76.13 a litre. Petrol in Mumbai will cost Rs 75.14 (Rs 74.23 earlier).

In Chennai, rates have been cut by Rs 0.97 per litre to Rs 72.19. The changes in prices of petrol are over and above the 70 paise per litre hike that was effected from July 24.

G Ramesh, Divisional Manager, Indian Oil Corporation told Deccan Herald that the state levies were restructured, benefitting consumers in Karnataka.

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