The price of Petrol and Diesel in India has been reduced by 2 INR per litre each as the International Oil prices reached a five year low.
The new rates will be effective from midnight of December 15 and 16 and the news has been confirmed by Indian Oil Corp.
This is the eighth straight reduction in Petrol price since August and fourth straight reduction in diesel price since October.
“The international prices of both petrol and diesel have continued to be on a downtrend. The Rupee-US Dollar exchange rate has however appreciated since the last price change.
“The combined impact of both these factors warrant a decrease in retail selling prices of both petrol and diesel” said Indian Oil Corp in a recently issued statement.
The Petrol cost in Delhi will be now 61.33 INR, the lowest in 44 months. The current price of Petrol in Delhi is 63.33 INR.
Check the fuel price in your city here.
In Mumbai, the petrol price will be cut down by 2.09 INR, and the new price will be 68.86 INR.
The new diesel price in Delhi and Mumbai will be 50.51 INR and 57.91 INR respectively.
Since August, the cumulative reduction in petrol price is 12.27 per litre, and this is an unquestionable news of joy for the common man in the nation. With four reductions, the cumulative cut down in diesel prices is 8.46 INR.
The International Oil Prices is showing its trend to depreciate in the future days as well, and it may result in more price reductions in the coming days.
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