Petrol and diesel prices were today cut by Rs 2 per litre as international oil prices dipped to a new low.
This is the eighth consecutive time that the petrol prices are reduced since August, and fourth for the diesel since October. After today's reduction, petrol price has been cut by Rs 12.27 per litre cumulatively since August. New rates will be effective midnight tonight, Indian Oil Corp, the nation's largest fuel retailer, announced here.
In Delhi, petrol will cost Rs 61.33 a litre, the lowest in 44 months, as compared to current price of Rs 63.33. The price has been cut by Rs 2.09 a litre in Mumbai to Rs 68.86.
Diesel will cost Rs 50.51 a litre in Delhi, the lowest since July 2013, as against Rs 52.51 currently. In Mumbai, it will cost Rs 57.91 per litre as compared to Rs 60.11.
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