Daily revision: Petrol price cut by Rs 1.12 per litre, diesel by Rs 1.24

Indian Oil Corporation on Thursday trim down petrol and diesel prices with effects from June 16, 2017. 

Prices of petrol has been decreased by Rs 1.12 per litre excluding state levies, while diesel prices have brought down by Rs 1.24 per litre excluding state levies. 

From June 16, 2017 onwards, India will be seeing daily revision in petrol and diesel prices. 

IOC said, "The company has implemented daily revision of retail selling prices of petrol and diesel on a pilot basis in Chandigarh, Jamshedpur, Puducherry District, Udaipur and Visakhapatnam with effects from May 01, 2017."

On the same lines, IOC intends to start revising retail selling prices of petrol and diesel across the country on a daily basis w.e.f. from16th June 2017. The prices declared on a daily basis shall be applicable from 6 AM to 6 AM the next day.

The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant decrease in selling price of Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision.

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Customers may verify fuel prices by sending SMS: RSP< SPACE >DEALER CODE to 9224992249 or download the Fuel@IOC App and locate the petrol pump to verify prices.

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