Petrol, Diesel Rates Slashed In September; Petrol Price In Delhi At Rs. 81.06 Per Litre

State-run oil retailing company Indian Oil Corporation (IOCL) for the month of September slashed petrol and diesel rates. ANI's tweet in the midnight hours of October 3 read "Indian Oil Corporation Limited has reduced the retail selling price of diesel by Rs 2.93/litre and petrol by Rs 0.97/litre at Delhi during the month of September 2020. There was a corresponding reduction in other markets during this period: IOCL".

After the gradual reduction in auto fuel rates, petrol and diesel prices on Saturday in the national capital are retailing at Rs. 81.06 and Rs. 70.46 per litre, respectively. Notably after the fuel prices again saw revision post lifting of coronavirus led lockdowns, after having seen no change for a considerable span, there was a time when diesel rate moved past petrol rates in the country.

Petrol, Diesel Rates Slashed In September; Petrol Price In Delhi At Rs. 81.06 Per Litre

But given the current price trend, this has now been overcome i.e. diesel is now priced lower than petrol. Fuel prices in India are determined basis the international crude oil rates as well as foreign exchange rate.

And ever since mid 2017, oil retailers are following dynamic model for pricing petrol and diesel which are revised every day at 6 am.

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