Petrol price cut by 50 paise per litre
Diesel price was not changed.
"Indian Oil Corporation Ltd. has decided to decrease the Retail Selling Price of Petrol by Rs. 0.50/litre at Delhi (including State levies) with corresponding price revision in other States w.e.f midnight of 31st October / 1st November, 2015. With this change, the price of Petrol in Delhi will become Rs. 60.70/litre," the Indian Oil Corporation said in a statement.
"The current level of international product prices and INR-USD exchange rate warrant a price decrease, which is being passed on to consumers with this price revision," read the statement.
"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," it said.
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