KASHMIR NEWS OBSERVER
The petrol price was cut today by Rs 1.46 a litre, a decrease after six consecutive increases since September. The new petrol price, effective midnight, will be Rs 66.16 in New Delhi. The price of diesel was also cut by Rs 1.53 per litre, a decrease after three consecutive increases. The new price of diesel also effective midnight, will be Rs 54.88 in New Delhi.
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The last change in petrol price was a by Rs 0.89 per litre and diesel was raised by Rs 0.86 paise a litre. The previous hikes had totaled to Rs 7.53 per litre in just over two months. In case of diesel, the three price increases totaled to Rs 3.90 a litre.
“The current level of international product prices of petrol and diesel and rupee-US dollar exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC had said in a statement on the previous increases.