Petrol price cut by 89 paise, diesel by Rs. 0.49 per litre

New Delhi: The government on Thursday cut the price of petrol by Rs. 0.89 a litre and that of diesel by Rs. 0.49 per litre. Indian Oil Corporation Ltd. decided to affect the following price changes w.e.f. midnight of July 30. With this change, the price of Petrol in Delhi will become Rs. 64.76/litre whereas diesel will now be priced at Rs. 54.70/litre. The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant decrease in selling prices of both Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision. 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.