New petrol and diesel rates come into effect

December 01, 2015 09:14

Petrol and diesel are now cheaper by 58 paisa a litre and 25 paisa per litre respectively.

Commenting on the reduction, effective from midnight Monday, Indian Oil Corp (IOC) said: "The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision."

The Indian basket of crude oils closed on the previous trading day on Friday at $41.01 a barrel, after having dropped below $40 during the fortnight in consideration.

The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision.

Petrol price was hiked by 36 paise per litre while that of diesel was raised by 87 paise per litre on November 15 in line with firming global rates

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