Petrol and diesel prices are not to get cheaper by 40 paise from today

The Indian Oil Corporation (IOC) announced on Tuesday that there would be no price reductions for petrol and diesel, reversing its prior statement. With this, the Monday-announced 40-paise reduction in fuel and gasoline prices will not be relevant.

Tuesday saw the price of gasoline in Delhi at Rs 96.72 while it was Rs 106.31 in Mumbai. Kolkata residents must pay Rs 106.03 for a liter of gasoline, while Chennai residents must pay Rs 102.63.

The decline in pricing was anticipated, even though the price of crude oil fell and then stabilized internationally. For a while now, the price of crude oil has been below 95 dollars a barrel.

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