Petrol price was cut by 80 paise a litre and diesel by Rs 1.30 per litre on Wednesday which is the second reduction in rates in April. The reduction will be effective from Wednesday midnight, Indian Oil Corportaion (IOC) said.
With this change, the price of petrol in Delhi will be Rs 59.20/litre and the price of diesel will be Rs 47.20/litre.
Prices of petrol and diesel were last revised downwards effective April 2 by Rs 0.49/litre and Rs 1.21/litre respectively.
Since the last price change, the trend of international prices of petrol and diesel and INR-USD exchange rate warrant a further downward revision in prices, the impact of which is being passed on to the consumers with this price decrease, said IOC in a press release.