New Delhi: The Public sector oil marketing companies have decided to reduce petrol and diesel prices effective midnight of 15th/16th November. Petrol prices have been reduced by Rs. 1.46 per litre and diesel prices have been cut by Rs. 1.53 per litre.
The reduction excluding state levies, according to a statement by Indian Oil Corporation.
This reduction was aided by the current level of international product prices of Petrol & Diesel and INR-USD exchange rate, it said.
The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, the company said in a statement.