Petrol down Rs 0.80/l, diesel by Rs 1.30/litre

Petrol price was on Wednesday cut by 80 paise per litre and diesel by Rs 1.30 a litre on global cues, the second reduction in rates this month. Prices of petrol in Delhi will be Rs 59.20 a litre, as against the current Rs 60, while diesel will cost Rs 47.20 per litre as against Rs 48.50, said Indian Oil Corp (IOC), the nation’s largest oil company. Rates were cut by 49 paise a litre in case of petrol and Rs 1.21 in diesel from April 2. “Since last price change, the trend of international prices of petrol and diesel and Rupee-US dollar exchange rate warrant a further downward revision in prices, the impact of which is being passed on to consumers with this price decrease,” IOC said in a statement.