New Delhi: Petrol price was on Saturday cut by Rs 0.50 per litre but there will be no change in rates of diesel. Petrol will cost Rs 60.70 per litre in Delhi from Saturday midnight as against Rs 61.20 currently, Indian Oil Corporation said. This is first change in petrol price since September 1 when it was cut by Rs 2 per litre to Rs 61.20 in Delhi.
Diesel rates though not changed on Saturday, had been hiked twice since then, by 95 paise on October 16 and by 50 paise on October 1. State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.