NewDelhi : After reducing only one paise yesterday, Indian Oil, the country’s largest Oil marketing company today reduced Petrol and Diesel prices by 7 paise and 5 paise respectively. In the last two days the cumulative reduction of Petrol and Diesel prices has been 8 paise and 6 paise respectively.
After this cut, Non–branded Petrol Prices in Delhi has been reduced to Rs. 78.35 and in Mumbai to Rs.86.16 per litre. In Bhubaneswar Petrol prices has been reduced to Rs.77.15 per litre.
On the other hand Non-Branded Diesel prices in Delhi and Mumbai have been reduced to Rs.69.25 and Rs. 73.73 per litre. In Bhubaneswar Diesel prices has been reduced to Rs.74.24 per litre.
The drop in prices is being attributed to the fall in Crude Oil prices to US$ 75 per barrel in the international prices after talks of production increase by the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries like Russia.