Petrol, diesel prices cut

Petrol prices were cut by Rs 1.42 per litre and diesel by Rs 2.01 per litre from Sunday midnight. This is the third reduction in the rates in July.

With this cut, retail selling price of petrol in Delhi will become Rs  61.09 per litre. The price of diesel in Delhi will become Rs 52.27 per litre, an IOC statement said.

“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrants decrease in selling prices of both petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” it said.

“The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” IOC said.