Petrol costs Rs 62.01/litre in Bengaluru

Four days before Delhi Assembly polls, petrol prices were on Tuesday cut by Rs 2.42 per litre and diesel by Rs 2.25 a litre. The new rates will be applicable from Tuesday-Wednesday midnight.

Oil marketing companies (OMC) had skipped a scheduled revision in petrol and diesel prices on January 31 despite fall in international crude prices since the last revision on January 17. The OMCs, however, cut the price of aviation turbine fuel (ATF) steeply on the same day.

After the revision in prices, petrol will sell at Rs 62.01 per litre in Bengaluru, Rs 56.49 in Delhi, Rs 64.60 in Kolkata, Rs 63.90 in Mumbai and Rs 58.88 in Chennai.This is the 10th reduction in petrol prices since August but all earlier revisions were done on the scheduled date.

Similarly, diesel will sell at Rs 50.06 per litre in Bengaluru, Rs 46.01 in Delhi, Rs 50.99 in Kolkata, Rs 52.99 in Mumbai and Rs 48.91 in Chennai.

Despite the latest cut, petrol will cost more than ATF, which is of superior quality and used as aircraft fuel. A litre of ATF costs Rs 46.51 in Delhi.

After the cut, petrol price is the lowest since September 2010, while diesel is cheapest since March 2013. Petrol and diesel prices were last cut on January 17 by Rs 2.42 and Rs 2.25 a litre, respectively.

“Since that price revision, international prices of both petrol and diesel have continued to be on a downtrend and the rupee-dollar exchange rate has appreciated,” said Indian Oil Corporation in a statement.