New Delhi: Petrol price was today cut by 89 paise per litre while diesel rate was slashed by 49 paise a litre. Revised prices will take effect from midnight. A litre of petrol in Delhi now costs Rs 64.76 while diesel is priced at Rs 54.7 a litre.
Previously on June 15, petrol and diesel prices were hiked by marginal 5 paise per litre and Rs 1.26 per litre, respectively. Barring April 16, when the price of petrol was cut by Rs 0.74 a litre and that of diesel by Rs 1.30, the rates have been in an upward trend since March 17.
State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) revise rates of the fuels on the 1st and 16th of every month based on the average oil price and foreign exchange rate in the preceding fortnight.