<p>Oil marketing firms have reduced prices of fuel — petrol, diesel and LPG cooking gas — following sharp fall in the international market.<br /><br />With the cut in petrol price by Rs 2.43 per litre in Delhi (including state levies), the revised price is Rs 64.47. <br /><br />Diesel price has been reduced by Rs 3.60 per litre and the retail price will be Rs 46.12. <br /><br />“The revised prices came into effect from July 31 midnight,” said Indian Oil Corporation in a statement. <br /><br />Oil marketing companies had last revised fuel prices on July 16. Since last price change, there has been a decrease in international prices of both petrol and diesel. The rupee-dollar exchange rate has, however, depreciated during this period.<br /><br />Various factors<br />State-owned fuel retailers — IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp — revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.<br /><br />In addition, the price of non-subsidised cooking fuel (LPG), which consumers buy after exhausting their quota of 12 cylinders, has been cut by Rs 23.50 per 14.2-kg cylinder.<br /><br />Non-subsidised cooking gas price in Delhi has been brought down to Rs 585 per cylinder from Saturday as compared to Rs 608.50, the IOC added. <br /><br />The price of non-subsidised LPG was last cut by Rs 18 per cylinder to Rs 608.50 on July 1. Subsidised LPG costs Rs 417.82 per 14.2-kg cylinder in Delhi. <br /><br />“The movement of prices in international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” the statement added. </p>
<p>Oil marketing firms have reduced prices of fuel — petrol, diesel and LPG cooking gas — following sharp fall in the international market.<br /><br />With the cut in petrol price by Rs 2.43 per litre in Delhi (including state levies), the revised price is Rs 64.47. <br /><br />Diesel price has been reduced by Rs 3.60 per litre and the retail price will be Rs 46.12. <br /><br />“The revised prices came into effect from July 31 midnight,” said Indian Oil Corporation in a statement. <br /><br />Oil marketing companies had last revised fuel prices on July 16. Since last price change, there has been a decrease in international prices of both petrol and diesel. The rupee-dollar exchange rate has, however, depreciated during this period.<br /><br />Various factors<br />State-owned fuel retailers — IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp — revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.<br /><br />In addition, the price of non-subsidised cooking fuel (LPG), which consumers buy after exhausting their quota of 12 cylinders, has been cut by Rs 23.50 per 14.2-kg cylinder.<br /><br />Non-subsidised cooking gas price in Delhi has been brought down to Rs 585 per cylinder from Saturday as compared to Rs 608.50, the IOC added. <br /><br />The price of non-subsidised LPG was last cut by Rs 18 per cylinder to Rs 608.50 on July 1. Subsidised LPG costs Rs 417.82 per 14.2-kg cylinder in Delhi. <br /><br />“The movement of prices in international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” the statement added. </p>
