State-owned oil firms cut rates with effect from last night. So after the deduction petrol in Bengaluru will cost  Rs 71.09/litre and Diesel is priced at Rs 59.52 per litre. Previously in January after the hike in prices, petrol stood at Rs 76.28 per litre and diesel at Rs 63.2 per litre.

 

Petrol price in Kerala after this latest revision on March 31, 2017 is Rs 69.31 per litre and diesel will be at Rs 59.69 per litre. 

 

Petrol price will be cut by Rs 3.77 per litre, excluding state levies, said Indian Oil Corp (IOC). Actual decrease will be larger after taking into account the local levies. Similarly, diesel rate was cut by Rs 2.91, excluding state levies.  Rates were last revised on January 16 when price of petrol went up by 54 paise. On that date, diesel rates were hiked by Rs 1.20 a litre.    

 

"The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant 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 in a statement.    

 

IOC 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.