Petrol, Diesel Prices cut by Rs 1.27 and Rs 1.17 respectively

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New Delhi: Government oil marketing companies on Friday slashed the retail prices of petrol and diesel by Rs. 1.27 per litre and Rs. 1.17 per litre respectively.With this change, the price of petrol in Delhi will become Rs. 63.20/litre and the new price of diesel will be Rs. 44.95/litre.

Prices of petrol and diesel were last revised on August 1. "Since last price change, there has been a decrease in international prices of both petrol and diesel. The Indian Rupee-US 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," Indian Oil, the largest oil marketer said in a release late on Friday.