Petrol prices cut again, even as losses widen on sale of diesel, kerosene & LPG

New Delhi : The government’s three oil marketing companies (OMCs) on Tuesday cut petrol prices by Rs 0.78 per litre. It would now cost Rs 65.64 in Delhi against Rs 66.34 earlier. There was a cut of 3.2 per cent earlier this month, too.

The price of aviation turbine fuel has been raised by 3.7 per cent, to Rs 64,622 per kl (Delhi). Meanwhile, losses on retail sale of diesel, kerosene and LPG have moved up.The petrol cut is the second since the fuel’s price was decontrolled in June last year. A statement from Indian Oil Corporation said, “MS (motor spirit or petrol) prices internationally have moved down significantly from $116 per barrel to $109 (in the current fortnight), while the exchange rate has weakened further from Rs 49.32 to Rs 51.50 per dollar.