In a first for the year, the government cut the price of petrol and diesel by Rs.3.77 and Rs.2.91 per litre respectively. The new prices are applicable from midnight of April 1.
The cut in fuel rates follows changes in crude oil prices, with Brent crude trading around $50 per barrel. Indian Oil Corporation released a statement highlighting the new prices.
The government had previously increased prices on January 16 this year. The new rate cut is likely to benefit individuals who have been plagued with rising costs. Fuel rates are reviewed periodically, reflecting international trends.
Petrol will cost Rs.66.29 per litre in Delhi following the rate cut. Diesel will now cost Rs.55.61 per litre in the capital.
|City||Current petrol price (per litre)||Petrol price on Jan 16 (per litre)|
|City||Current diesel price (per litre)||Diesel price on Jan 16 (per litre)|
While rates were cut across the country, residents in Goa will have to shell out more to buy petrol, with the state government increasing prices by Rs.5 per litre.
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