Petrol price cut by 75 paise a litre
The diesel, however, price remained unchanged.
"Indian Oil Corporation Ltd. has decided to decrease the retail selling price of Petrol by Rs.0.75/litre (excluding state levies) w.e.f midnight of 31stMar/1st Apr'14," state-run Indian Oil Corporation Ltd. (IOC) said in a statement on Monday.
"The price of Petrol was last revised upwards by Rs. 0.60/litre (excluding state levies) w.e.f 1st March 2014. Since last price change, there is a declining trend in international prices of MS and the INR-USD exchange rate has also been strengthening. The combined impact of both these factors has resulted in reduction in price of Petrol, the benefit of which is being passed on to consumers through price decrease of Rs 0.75/litre (excluding VAT). With this price revision, RSP at Delhi shall decrease by Rs0.90/litre," it said.
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