Petrol Price Cut by Rs 2 Per Litre; Diesel By 50 Paise

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The 1st of September starts with good news as the price of petrol has been reduced by Rs 2 per litre and diesel by 50 paise. This is the third consecutive price drop.

The revised prices are effective midnight 31st of August.

Indian Oil Corporation said in a release, "Since last price change, there has been a decrease in international prices of both Petrol & Diesel. However, Rupee-USD exchange rate has depreciated during this period."

"The 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."

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

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