New Delhi July 16, 2016 : Oil marketing companies on Friday cut petrol prices by Rs 2.25 a litre and diesel by 42 paise a litre.
Petrol will cost Rs 62.51 a litre in Delhi from midnight tonight as compared to Rs 64.76 per litre, Indian Oil Corp, the nation’s largest fuel retailer, announced.
Similarly, diesel will cost Rs 54.28 per litre as against Rs 54.70 a litre currently.
Petrol price was last cut by 89 paise a litre and diesel by 49 paise a litre on June 30/July 1. Prior to the reduction this month, prices had been hiked on four occasions since May 1. Petrol prices in the four hikes had been raised by Rs 4.52 a litre and diesel by Rs 7.72 per litre.