Petrol & Diesel Prices down from Tuesday midnight
In response to the global prices and currency fluctuations, the three state-owned oil marketing companies (OMCs) have now decided to lower the Petrol & Diesel prices from midnight Tuesday.
According to the Indian Oil Corporation (IOC), retail petrol price will be now decreased by Rs 1.46 per litre and diesel would become cheaper by an amount of Rs 1.53 per litre, which also includes state levies.
“The current level of the international product prices of the petrol and diesel and INR-USD exchange rate warrant has decreased in selling price of petrol and diesel, the impact of which is being further passed on to the consumers with this price revision,” IOC said in a statement.
“The movement of the prices in the international oil market and INR-USD exchange rate shall further continue to be monitored closely and developing trends of the market will be reflected in future price changes.”
The new prices of the non-branded petrol in metros like New Delhi would come to Rs 65.93 per litre, Kolkata Rs 68.67, Mumbai Rs 72.29 and Chennai Rs 65.41.
The revised prices of non-branded diesel in New Delhi would be reaching to Rs 54.71 per litre, Kolkata Rs 56.95, Mumbai Rs 60.32 and Chennai Rs 56.24.
On November 5, 2016, the three OMCs has also decided to raise the price of petrol and diesel by Re 0.89 per litre and Re 0.86 per litre (which exclude the state levies).
Somewhere, this could also be a sigh of relief to people who are suffering because of the government move of demonetization, which has created a lot of problems across the nation .People are facing problems as they are standing in long queues outside banks, for hours. The currency flow has slowed down in the country but this would definitely get a hold on corruption.