Petrol price was cut by Rs 1.09 per litre, the second reduction in three-and-half-months, while diesel rates were hiked by 56 paise a litre.
The revisions will be effective midnight tonight, Indian Oil Corp, the nation’s largest oil firm, announced on Thursday.
Petrol in Delhi will cost Rs 72.51 per litre from Friday as against Rs 73.60 a litre currently. Similarly, diesel will be priced at Rs 58.40 per litre from Friday as compared to Rs 57.84 currently.
Petrol price was reduced following drop in international oil rates and rupee depreciation against US dollar, making imports cheaper.
For the same reason, price of bulk diesel, which unlike the subsidised fuel available at petrol pumps is priced at market rate, has been cut by 72 paise per litre.
- Shah Rukh Khan On Raees Clash With Kaabil: It’s Impossible To Have A Solo Release In India
- US-President Elect Donald Trump Named TIME’s Person Of The Year 2016
- O. Panneerselvam: 10 Things You Need To Know
- PM Narendra Modi Slams Opposition For Not Letting Parliament Function
- Nawazuddin Siddiqui On Working In Raees: Was Nervous To Shoot With Shah Rukh Khan
- Bathinda Dancer Murder: Video Showing Accused Opening Fire At Marriage
- 5 Lesser Known Facts About Sasikala Natarajan
- Congress Leader Shashi Tharoor’s Delhi Home Burgled: Here’s What Happened
- Reserve Bank Of India Keeps Repo Rate Unchanged Post Demonetisation
- Bigg Boss 10 Dec 06 Review: Swami Om Pees In Kitchen
- Lenovo k6 Power Video Review
- Bigg Boss 10 December 5 Review: Manveer Calls Swami Om ‘kachdaa’
- PM Narendra Modi Declared Winner Of TIME Magazine’s Person Of The Year – Reader’s Poll
- Paneerselvam sworn in as new Chief Minister of Tamil Nadu
- Tamil Nadu CM J Jayalalithaa Passes Away After Suffering Cardiac Arrest
Price of bulk diesel, which as per government policy is meant for large consumers like state road transport corporations, railways and defence, was last revised on July 16 when rates were cut by Rs 1.09 to Rs 59.32 per litre.
Besides, rates of non-subsidised LPG cylinders, which household consumers buy after exhausting their quota of 12 subsidised bottles, has been reduced by Rs 2.50 per 14.2-kg cylinder.
Petrol price was last cut by 70 paise on April 16 in line with declining trend in the international market. This reduction was excluding local levies and after including local sales tax or VAT, the actual reduction in pump rates came to 85 paise in Delhi.
Oil companies as practice announced price revisions without including local levies but today in case of petrol the reduction was announced after including local levies so as to boost up the headline cut. With including local levies, the reduction was about 91 paise a litre.
In case of diesel, IOC announced a increase of 50 paise, excluding local levies. After including local levies, the hike came to 56 paise per litre in Delhi.
The reduction in bulk diesel and non-subsidised domestic LPG rates was also after including local levies so as to give an impression of a bigger cut.