India’s 70th Independence Day brings along good news, as the prices of petrol and diesel have been reduced, effective midnight. Similar trend continued again when the rates were much more down by 2.25 and 0.42 per litre of petrol and diesel in the same month. Petrol will now be available in Delhi at about Rs 60.09 per litre and one litre diesel can be obtained at about Rs 50.27. The price differential between the two fuels has now come down to Rs 9.40 a litre.
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It says current figures show that the petrol price could decrease by 69 cents a litre, after a 99 cents decrease this month.
Similarly, diesel will cost Rs. 50.27 per litre as against Rs 52.27 per litre now, the nation’s largest fuel retailer added. 1 a litre and diesel by Rs. 2 a litre on Monday, the fourth reduction since July.
Fuel prices are revised on the 1st and 16th of each month.
The prices of petrol and diesel were slashed late on Monday on global cues.
The rate cut comes ahead of the prices in the worldwide oil market and rupee-USD exchange rate.
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The IOC also confirmed that a close eye was being kept on the worldwide oil markets and the exchange rate of the dollar rupee.
