New Delhi, July 15, (ANI): The Indian Oil Corporation (IOC) has decided to decrease the basic price of Petrol and Diesel by Rs. 2.00 per litre with effect from midnight.
The prices of Petrol and Diesel were last revised on July 1. Since last price change, there has been a decrease in international prices of both Petrol and Diesel.
INR-USD exchange rate has also appreciated during this period. Combined impacts of both these factors warrant the said downward revisions.
The movement of prices in 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 change. (ANI)