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Petrol, Diesel price cut revised to 1 paisa a litre

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KalingaTV News Network

New Delhi: The reduction in petrol and diesel prices was on Wednesday revised to just 1 paisa a litre each, with oil companies blaming clerical error for previously announcing a cut of up to 60 paise.

The oil companies this morning announced reduction in petrol price by 60 paise a litre and diesel by 56 paise in Delhi. Within hours of the announcement, they revised the cut to just 1 paisa a litre each.

“The reduction was supposed to be 1 paisa but due to a clerical error the price prevalent on May 25 was communicated as today’s price,” a senior official of Indian Oil Corp. (IOC) said.

Petrol in Delhi now costs Rs 78.42 per litre and diesel Rs 69.30.

The marginal reduction comes after 16 consecutive price increases since May 14 when fuel retailers ended a 19-day pre-Karnataka poll hiatus to pass on a spike in global oil rates.

Fuel prices vary from state to state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals.

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