OREANDA-NEWS. Indian Oil Corporation Ltd. has decided to decrease the Retail Selling Price of Petrol w.e.f midnight of 14th / 15th August '14 by Rs 2.18/litre at Delhi (including state levies) with corresponding decrease in other States.

The last price revision of Petrol was effected on 1st August'14 when prices were reduced by Rs. 0.90/litre (excluding state levies) resulting in Retail Selling Price at Delhi going down by Rs 1.09/litre. This reduction was effected mainly on the back of a declining trend in international petrol prices. Since last price change, while International petrol prices have further declined, the INR-USD exchange rate has significantly depreciated. The current levels of international oil prices and INR-USD exchange rate warrant a decrease in selling price of petrol in the domestic market. Thus a downward revision in selling price of petrol prices is being effected w.e.f midnight of 14th / 15th August '14. With this price revision, RSP at Delhi shall decrease by Rs 2.18/litre (including state levies), with corresponding decrease in other States.