Petrol would now cost Rs 61.51 and diesel Rs 52.28 in Delhi. (file photo) Petrol would now cost Rs 61.51 and diesel Rs 52.28 in Delhi. (file photo)

The price of Petrol has been decreased by Re 1 per litre and the diesel price by Rs 2 per litre with immediate effect from midnight. This is the fourth time since July where rates have been slashed.

Petrol will now cost Rs 60.09 a litre in Delhi from midnight as compared to Rs 61.09 a litre currently, said Indian Oil Corp (IOC). The price of diesel will cost Rs 50.27 per litre as against Rs 52.27.

The price was last cut by Rs 1.42 a litre in case of petrol and by Rs 2.01 per litre for diesel on August 1.

“The current level of international product prices of petrol and diesel and rupee-dollar exchange rate warrant a decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said.

The movement of prices in the international oil market and rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOC added.

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