Petrol and diesel prices slashed for the fourth time
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Price of petrol has been cut by Rs 1 a litre and diesel by Rs 2 per litre, the fourth reduction in rates since July. Petrol will now cost Rs 60.09 a litre in Delhi from midnight as compared to Rs 61.09 a litre currently, said Indian Oil Corp (IOC). The price of diesel will cost Rs 50.27 per litre as against Rs 52.27.
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The price was last cut by Rs 1.42 a litre in case of petrol and by Rs 2.01 per litre for diesel on August 1.
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"The current level of international product prices of petrol and diesel and rupee-dollar exchange rate warrant a decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision," IOC said.
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The movement of prices in the international oil market and rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOC added.