Govt. slashes fuel prices

New Delhi, July 31 : The Indian Oil Corporation (IOC) on Sunday reduced the price of petrol by Rs. 1.42 per litre, while that of diesel by Rs. 2.01 per litre. The revised prices would be effective from midnight intervening Sunday and Monday. After the reduction in price, petrol will cost Rs. 61.09 per litre in Delhi, with corresponding changes in the other states. The price of diesel in Delhi would be Rs. 52.27 per litre. "The current level of international prices of Petrol and Diesel and INR-USD exchange rate warrant decrease in selling prices of both Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision," said the statement issued by IOC.

The movement of prices in the international 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.

The price of Petrol and Diesel was last revised on July 15, in which the price of petrol was decreased by Rs.

2.25 per litre while the price of diesel was slashed by Rs. 0.42 per litre..

Source: ANI