New Delhi, Oct 14: Oil companies on Tuesday cut petrol price by Re 1, and it will come into effect from Tuesday midnight. However, the first reduction of diesel price in over five years has been put off till the state elections get over on October 19.
Under the new revised price, petrol in Delhi will now cost Rs 66.65 per litre, down Rs 1.21 from Rs 67.86, in Kolkata the price will be Rs 74.21, down Rs 1.25 from Rs 75.46 per litre while in Mumbai, it will now cost Rs 74.46 after being cut by Rs 1.27 from the previous Rs 75.73 per litre.
In Chennai, petrol will now cost Rs 69.59 against the previous cost of Rs 70.87 after a reduction of Rs 1.28.
On September 30, state-owned oil companies had cut the price of petrol by 65 paise per litre while putting off the cut in diesel price till the return of Prime Minister Narendra Modi from the US.
Oil Minister Dharmendra Pradhan said on Tuesday that the right decision to cut diesel price at the right time will be taken by the government.
He said: “As you are aware, election code of conduct is in place so will decide on the issue at the right time.”
The price of diesel is expected to be cut by as much as Rs 2.50 per litre after the state elections on October 19.
With the falling of crude oil prices internationally, oil companies in India are likely to slash the prices of diesel.
(With Agency Inputs)