Public sector oil marketing companies announced a cut in retail selling price of petrol by ₹ 2 a litre and diesel by ₹ 0.5 a litre in Delhi on Monday. The price cut is inclusive of state levies and will vary from state to state.

The price change will be effective midnight August 31/September 1. After the change petrol will cost ₹ 61.20 a litre in Delhi while diesel will cost ₹ 44.45 a litre.

"Since last price change (with effect from August 1, 2015), there has been a decrease in international prices of both petrol and diesel. The rupee-dollar exchange rate has, however, depreciated during this period. Combined impact of both these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease," IndianOil said in a statement.