Petrol price slashed by Rs 1.12 per litre, diesel by Rs 1.24 per litre

Starting June 16, petrol and diesel prices will be revised daily.

The petrol price has been slashed by Rs 1.12 per litre while the price of diesel has been reduced by by Rs 1.24 per litre.

The new prices will be effective from June 16.

Petrol and diesel prices would be revised every day at 6 am across the country, moving away from the practice of revising rates at midnight every fortnight.

The previous fuel price revision was on May 31 when the price of petrol was increased by Rs 1.23 per litre while that of Diesel was hiked by 89 paise per litre.

Starting June 16, petrol and diesel prices will be revised daily. Oil companies and retailers will change fuel rates across the country every day depending on the fluctuations in international oil prices to petrol pump owners and end customers.

The decision to revise fuel rates daily from June 16 is an extension of a pilot that the oil companies have been running in the five cities of Udaipur, Jamshedpur, Puducherry, Chandigarh, and Vishakhapatnam, since May 1.

OneIndia News