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Petrol Price Slashed By Rs 3.77 Per Litre And Diesel By Rs 2.91 Per Litre
Indian Oil Corporation and other oil companies have slashed the petrol and diesel price in the country. Read to know all the details about the fuel price.
Indian Oil Corporation (IOC) and other oil companies have slashed the price of petrol by Rs 3.77 per litre and diesel by Rs 2.91 per litre. The revised price will be effective from April 1, 2017.
The first changes in fuel rates came after two and a half months. The petrol price is down by Rs 3.77 per litre excluding state levies. The actual decrease will be larger after including state levies. Diesel price is also down by Rs 2.91 per litre excluding state levies.
In an official statement, IOC said, "The current level of international product prices of Petrol and Diesel and INR-USD exchange rate warrant decrease in selling price of Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision."
The statement added, "The movement of prices in the 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."
The petrol and diesel rates were last revised on January 16, 2017. The petrol price was raised by 54 paise, and diesel rates went up by Rs 1.20 per litre.
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