New Delhi, Dec 15 (IANS) With international crude oil rates slipping
towards $60 a barrel, state-run oil marketeers Monday cut petrol and
diesel rates further each by Rs.2 a litre in Delhi, effective midnight.
Allowing for local levies, the prices of transport fuels will decrease
correspondingly in other states, Indian Oil Corp said in a statement
here.
"The prices of petrol and diesel were last revised downwards w.e.f. 1st
December'14 by Rs. 0.91/ litre and Rs. 0.84/ litre respectively
(including state levies at Delhi) on the back of declining international
oil prices," it added.
In October, the government deregulated diesel prices by linking the fuel cost to market-based pricing.
The price of the Indian basket crude oil on the last trading day Friday was $60.58 per barrel. A barrel is equal to 159 litres.
