Petrol Prices Deduced by Rs 2.41 per litre; Diesel drops by Rs 2.25

As the international prices of crude oil slips, petrol prices are reduced by Rs 2.41 per litre while the prices of deregulated diesel drops by Rs 2.25 per litre. Since August, this is the sixth time when petrol prices are reduced. The revised prices of petrol and diesel are effective from Friday midnight. 

After the reduction in prices, petrol will now cost Rs 64.25 a litre in Delhi while earlier it was Rs 66.65. In Mumbai, the petrol prices will be reduced by Rs 2.55 a litre to Rs 71.91. Since August, petrol price has been cumulatively cut by Rs 9.36 per litre. Prices vary from state to state because of differential rate of local sales tax or VAT.

Nation’s most consumed fuel diesel have been cut for the second time this month. In Delhi, diesel now costs Rs 53.35 per litre compared to Rs 55.60 per litre yesterday. 

“The price of petrol was last revised downwards with effect from October 15 by Rs 1.21 per litre (including state levies at Delhi) on the back of declining international oil prices,” IOC statement said. Earlier last month, government has decided to de-regulate the prices of diesel which makes global crude oil rates a parameter for diesel prices in the country.