Petrol price was slashed by Rs 2.16 per litre and diesel by Rs 2.10 per litre, effective from Monday midnight.
Post reduction, petrol will cost Rs 65.32 per litre and diesel will be priced at Rs 54.90 across Delhi, NCR.
Indian Oil Corporation Ltd. (IOCL) has said that there will be decrease in selling price of petrol and diesel by Rs. 2.16 a litre and Rs. 2.10 per litre respectively- excluding state levies.
"The current level of international product prices of petrol and diesel and rupee-dollar 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," IOCL said in a statement.
It further stated that the movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.
Earlier on April 30, petrol and diesel prices were hiked by Rs. 1.39 and Rs. 1.04 per litre.