On Tuesday 3rd Feb petrol and diesel prices have slashed with a decline in international oil prices. The petrol price has cut by Rs. 2.42 per litre while the diesel by Rs 2.25 per litre. Now in Delhi, the petrol will cost Rs 56.49 a litre from the midnight of Feb 3rd compared to Rs. 58.91 and diesel will cost Rs 46.01 per litre against Rs 48.26 per litre.
Indian Oil Corp (IOC) announced that the new rates of petrol and diesel have been applied from the midnight of February 3 and February 4. This is the tenth straight reduction in petrol price since August and sixth in diesel since October. And this is the third time since the beginning of 2015 that the prices of fuel have been reduced.
The state fuel retailers are making a margin of Rs. 4 a litre on petrol and about Rs 3.6 per litre on diesel, after the price reduction.