Non-subsidised LPG rates have been cut by Rs 23.50 per cylinder to Rs 585, effective from midnight.
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With this change, the price of petrol in Delhi will become Rs. The price of diesel could go down by about 70c, while that of illuminating paraffin could drop by 68c a litre on 5 August.
Likewise, Dar said that the price of Kerosene oil had been reduced by Rs 4.83 per liter from Rs 64.94 to Rs 60.11 per liter. Prior to this, the price of petrol was cut on July 1 by 31 paise per litre and diesel by 71 paise a litre. “The movement of prices in global oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes”, the statement added. “Combined impacts of both these factors warrant the said downward revisions”, it said. In case of diesel, the July 1 cut was the second reduction in rates sine June.
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The latest data for the final week of July indicates that the petrol price would be even lower – between 47 to 49 cents a litre, with diesel down by approximately 70 cents.
