New Delhi, Dec 15: With international crude oil rates slipping towards $60 a barrel, state-run oil marketeers on Monday cut petrol and diesel rates further each by Rs.2 a litre in Delhi, effective midnight.
Allowing for local levies, the prices of transport fuels will decrease correspondingly in other states, Indian Oil Corp said in a statement here.
"The prices of petrol and diesel were last revised downwards w.e.f. 1st December'14 by Rs. 0.91/ litre and Rs. 0.84/ litre respectively (including state levies at Delhi) on the back of declining international oil prices," it added.In October, the government deregulated diesel prices by linking the fuel cost to market-based pricing.
The price of the Indian basket crude oil on the last trading day Friday was $60.58 per barrel. A barrel is equal to 159 litres.