New Delhi, 31 Oct: Public sector oil marketing companies announced a cut in the retail selling price of petrol by Rs. 2.41 a litre and diesel by Rs.2.25 a litre in Delhi. The decrease includes state levies and will vary from state to state.
The price cut will be effective from midnight October 31/November 1 following which diesel will be sold at Rs. 53.35 a litre in Delhi and petrol will be sold at Rs.64.24 a litre.
“The international prices of both petrol and diesel have continued to be on a downtrend. The INR-USD exchange rate has appreciated slightly since the last price change and the combined impact of both these factors warrant a decrease in retail selling prices of petrol and diesel,” said Indian Oil in a statement.
The Rs 2.41 a litre price cut in petrol and Rs 2.25 in diesel was after accounting for a 10-15 paise increase in commission paid to petrol pump dealers. The reduction should have been higher by 10-15 paise if the dealer commission had not been increased.
Petrol will cost Rs 64.25 a litre in Delhi from tomorrow as against Rs 66.65 currently. In Mumbai, the rate will be cut by Rs 2.55 a litre to Rs 71.91.
Since August, petrol price has been cumulatively cut by Rs 9.36 a litre.
Prices vary from state to state because of differential rate of local sales tax or VAT.
Diesel rates have been cut for the second time this month. The nation’s most consumed fuel will now cost Rs 53.35 a litre in Delhi from tomorrow compared to Rs 55.60 a litre at present.
In Mumbai, diesel price has been reduced by Rs 2.50 to Rs 61.04.
The government had on October 18 freed diesel prices from its control, giving freedom to oil marketing companies to adjust rates in line with cost. On that day, rates were cut by Rs 3.37 a litre, the first reduction in price of diesel in over five years. The previous decline dates back to January 2009.
Simultaneously, the price of non-subsidised cooking gas (LPG) was cut by Rs 18.5 to Rs 865 per 14.2-kg cylinder.
Since August, this is the fourth reduction in rate of non-subsidised LPG which consumers buy after exhausting their quota of sub-market priced domestic cooking gas.
Non-subsidised LPG in Delhi was priced at Rs 922.50 in July and rates have in every subsequent month been reduced.
The only exception being October 23 when prices went up by a marginal Rs 3 a cylinder following government raising the commission paid to LPG dealers/distributors.
The price cut will be effective from midnight October 31/November 1 following which diesel will be sold at Rs. 53.35 a litre in Delhi and petrol will be sold at Rs.64.24 a litre.
“The international prices of both petrol and diesel have continued to be on a downtrend. The INR-USD exchange rate has appreciated slightly since the last price change and the combined impact of both these factors warrant a decrease in retail selling prices of petrol and diesel,” said Indian Oil in a statement.
The Rs 2.41 a litre price cut in petrol and Rs 2.25 in diesel was after accounting for a 10-15 paise increase in commission paid to petrol pump dealers. The reduction should have been higher by 10-15 paise if the dealer commission had not been increased.
Petrol will cost Rs 64.25 a litre in Delhi from tomorrow as against Rs 66.65 currently. In Mumbai, the rate will be cut by Rs 2.55 a litre to Rs 71.91.
Since August, petrol price has been cumulatively cut by Rs 9.36 a litre.
Prices vary from state to state because of differential rate of local sales tax or VAT.
Diesel rates have been cut for the second time this month. The nation’s most consumed fuel will now cost Rs 53.35 a litre in Delhi from tomorrow compared to Rs 55.60 a litre at present.
In Mumbai, diesel price has been reduced by Rs 2.50 to Rs 61.04.
The government had on October 18 freed diesel prices from its control, giving freedom to oil marketing companies to adjust rates in line with cost. On that day, rates were cut by Rs 3.37 a litre, the first reduction in price of diesel in over five years. The previous decline dates back to January 2009.
Simultaneously, the price of non-subsidised cooking gas (LPG) was cut by Rs 18.5 to Rs 865 per 14.2-kg cylinder.
Since August, this is the fourth reduction in rate of non-subsidised LPG which consumers buy after exhausting their quota of sub-market priced domestic cooking gas.
Non-subsidised LPG in Delhi was priced at Rs 922.50 in July and rates have in every subsequent month been reduced.
The only exception being October 23 when prices went up by a marginal Rs 3 a cylinder following government raising the commission paid to LPG dealers/distributors.
