Petrol price slashed by 65 paise per litre

Zee Media Bureau

Oil marketing companies on Tuesday cut petrol prices by 65 paise per litre on the back of softening international oil rates.

The revised rates are effective from midnight tonight, oil companies announced today.

Diesel price is likely to be cut by about Re 1 per litre, the first reduction in rates in over five years, after Prime Minister Narendra Modi returns from the US.

Petrol in Delhi will now cost Rs 67.86 a litre from tomorrow.

Meanwhile, price of non-subsidised cooking gas (LPG) was today cut by Rs 21 per cylinder and that of jet fuel (ATF) by a steep 3 per cent on the back of falling international oil rates.

This is the third straight reduction in rates of non- subsidised LPG since July.

A non-subsidised 14.2-kg cooking gas cylinder will now cost Rs 880, down from Rs 901, in Delhi, according to Indian Oil Corp (IOC).

A subsidised LPG cylinder in Delhi costs Rs 414.

The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 2,077.62 per kilolitre, or 2.98 per cent, to Rs 67,525.63 per kl, the nation's largest fuel retailer said.