As an Independence Day gift , petrol will be cheaper by at least Rs 2.18 per litre, including local levies, effective August 15, it was announced on Wednesday.
"Indian Oil Corporation has decided to decrease the retail selling price of petrol w.e.f midnight of 14th/15th August by Rs 2.18/litre at Delhi (including state levies) with corresponding decrease in other states," the state-run oil marketer said in a statement here.
This is the second cut in petrol rates after the NDA government assumed charge. The earlier reduction was effected on August 1 by 90 paise a litre excluding state levies.
Since the last price change, while international petrol prices have further declined, the rupee-US dollar exchange rate has significantly depreciated, all of which warranted a lowering of prices, said Indian Oil.
If cut of Rs 2.38 is made in prices, these will be the prices for tricity.
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