New Delhi: In a major relief, the prices of petrol and diesel have been slashed by state-run Indian Oil Corp (IOC). The price of petrol by Rs 2.16 per litre and that of diesel by Rs 2.10 a litre excluding state levies with immediate effect.

According to IOC, the current level of international prices of petrol, diesel and the Indian rupee-US dollar exchange rate warranted a decrease in selling price.

 image courtesy: PTI

"The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," the IOC said in a statement late on Monday.
Therefore, after the alteration of rates, the petrol in Delhi will cost Rs 65.32 a litre from tomorrow as against Rs 68.09 currently. Similarly, a litre of diesel will be priced at Rs 54.90 as compared to Rs 57.35 at present.