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Government-controlled Oil marketing companies today announced a cut in petrol and non-subsidised LPG prices while announcing a monthly increase in diesel price.
The retail selling price of petrol at Delhi would come down by Rs 1.82 a litre (including state levies). Petrol prices were earlier cut by Rs 2.18 on August 15 at Delhi .
Indian Oil Corporation, the largest retailer of petroleum products, said diesel price at retail outlets has been increased by Rs 0.57 a lite but since prices in international market have shown a downtrend, selling price of diesel sold to bulk consumers (Bulk HSD) shall reduce by Rs 1.32 at Delhi (including VAT).
"This reduction was mainly on the back of a declining trend in international petrol prices. Since the last price change, petrol prices have continued to show a downward trend and the
INR-USD exchange rate has also appreciated slightly. The current levels of international oil prices and INR-USD exchange rate warrant a decrease in selling price of petrol in the domestic market. Thus a downward revision in selling price of petrol prices is being effected," said an IndianOil release.
In case of LPG, international prices have witnessed a downtrend trend during the previous month. As a consequence, w.eJ 01.09.2014, selling price of Domestic Non-Subsidised LPG cylinder shall reduce by Rs 19.00 for a 14.2 kg cyl and that of LPG Commercial cylinder by Rs 32.S0 for a 19 kg cyl (including VAT) at Delhi with corresponding decrease in other states.
