Petrol price cut by 32 paise a litre; diesel to cost 28 paise more

State-run oil marketing companies have announced a reduction in the retail price of petrol by 32 paise a litre and an increase in diesel prices by 28 paise a litre, effective midnight tonight. The price cut is inclusive of state levies and will vary from state to state.

After the change, petrol will cost Rs59.63 a litre in Delhi while diesel will cost Rs44.96 a litre.

"The current level of international product prices of petrol and diesel and rupee-US dollar exchange rate warrant a decrease in prices, the impact of which is being passed on to the consumers with this price revision," Indian Oil Corporation said in a release.

"The movement of prices in the international oil market and rupee-US Dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," it added.

With this revision in retail price, a litre of non-branded petrol will cost Rs65.73 in Mumbai, Rs64.64 in Delhi, Rs64.64 in Kolkata and Rs59.10 in Chennai.

Non-branded diesel per litre will now cost Rs51.52 in Mumbai, Rs44.96 in Delhi, Rs48.33     in Kolkata and Rs48.33 in Kolkata.