Published: Mon, November 05, 2018
Money | By Ralph Mccoy

Lanka IOC also revises fuel prices

Lanka IOC also revises fuel prices

On Friday, the petrol was priced at Rs. 79.18 per litre in Delhi and Rs. 84.68 per litre in Mumbai.

The lower wholesale price of petrol has been brought about by an 11 per cent fall in the price of oil during October.

The downward slide in petrol and diesel prices continued on Saturday after the rates were cut by 19 and 11 paise a litre respectively in the national capital on softening global oil prices. In Chennai, petrol and diesel was retailing at Rs 82.06 and Rs 77.73 respectively.

"Petrol and diesel prices in #Delhi are Rs 78.99 (decrease by Rs 0.19) and Rs 73.53 per litre (decrease by Rs 0.11), respectively".

This means the average cost of filling a 55-litre family auto with petrol has stayed at £71.83 when it would have been almost £2 cheaper if retailers had reflected the lower wholesale prices on forecourts, according to the research.

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Fuel prices have been declining since early October as oil companies factored in softening of global rates.

Lanka IOC has revised prices of its auto fuels from midnight yesterday following a review of auto fuels by the government.

Like petrol today, there has been a significant reduction in diesel prices across the country.

In Mumbai, petrol had hit a peak of Rs 91.34 on October 4 and diesel was sold at a record high of Rs 80.10.

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