Petrol price slashes by Rs 1.42, diesel cut by Rs 2.01 per litre

New Delhi: Petrol and diesel prices has been slashed by Rs 1.42 per litre and likewise diesel prices was cut by Rs 2.01 a litre, this is for the third reduction was done in rates this month.

The nation’s largest fuel retailer Indian Oil Corporation (IOC) said, the effected cost will be applicable from midnight tonight and now Petrol will cost Rs 61.09 a litre in Delhi as compared to Rs 62.51 per litre currently.

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In the same way, diesel will cost Rs 52.27 per litre as against Rs 54.28 currently.

This is the third reduction in rates this month. Petrol price was last cut by Rs 2.25 a litre on July 16. Diesel rate on that date was reduced by Rs 0.42 a litre. Prior to that petrol price was cut by 89 paise a litre and diesel by 49 paise on July 1.

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Prior to the reductions in July, rates had been hiked on four occasions since May 1. Petrol prices in the four hikes had been raised by Rs 4.52 a litre and diesel by Rs 7.72 per litre.