As the trend of reversing the fuel price is continue Petrol price was y cut by Rs 2.16 per liter and diesel by Rs 2.10 today.
The reduction in the price will be effective from midnight tonight. On April 16, petrol price was hiked by Rs 1.39/litre and diesel by Rs 1.04/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.
"The movement of prices in the international oil market and INR-USD exchange rate will continue to be monitored closely and developing trends of the market will be reflected in future price changes", it further said.
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