Second reduction in petrol and diesel prices this month. Earlier on 1st July, the price of petrol was cut down by 89 paise/litre & 49 paise/litre that of diesel. On Friday, the prices were further slashed to Rs. 2.25/lt. & 45 paise/lt. for petrol & diesel respectively.
With the revised rates, the petrol will cost Rs.62.51 and diesel Rs.64.76, said Indian Oil Corporation. Though, the prices for the same had been hiked four times since May 1. The total raise in price after four hikes was Rs.4.25/litre for petrol and Rs.7.72 for diesel.
“The current level of international product prices of petrol & diesel and Rupee-US Dollar exchange rate warrant decrease in selling price of petrol & diesel, the impact of which is being passed on to the consumers with this price revision,” said IOC.