Rejoice for we just had a petrol price cut! The price of petrol has been slashed by 70 paise a litre, not too much of a relief but still, any reduction in petrol prices is a welcome. This petrol price cut of 70 paise is excluding local taxes. This is the second petrol price reduction this month, as Indian currency continues to grow stronger against American dollar.
Post this price reduction, price of Petrol in Delhi would be lowered by 85 paise to Rs. 71.41 a litre. Price of petrol in Mumbai will be Rs. 80 a litre, lesser by 89 paise.
On the announcing of latest petrol price cut, Indian Oil Corp, India’s largest oil company, said, “The continued appreciation of the rupee has resulted in reduction in petrol prices.”
While petrol prices in India have seen a reduction, there won’t be a change in price of Diesel in India.