Petrol price cut by 50 paise per litre with effect from Saturday midnight, but diesel rates remain unchanged.
Earlier this month, Diesel price was hiked by 50 paise per litre.
“The current level of international prices and INR-USD exchange rate warrant a price increase, which is being passed on to consumers with this price revision,” IOC said.
ALSO READ: Diesel Rates Up By 50 Paise, Petrol Prices Remain Unchanged
At the last revision on September 1, petrol price was cut by Rs 2 per litre and diesel by 50 paise.
A litre of petrol in Delhi currently costs Rs 61.20.
Oil companies had at the last scheduled review on September 16 put off a 98 paise per litre hike in petrol and Rs 2.28 a litre increase in diesel rates necessitated due to firming global oil rates apparently because of assembly elections in Bihar.
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