Petrol price cut by Rs 2.42/L; diesel by Rs 2.25

Oil marketing companies Tuesday decided to cut price of petrol by Rs 2.42 per litre and diesel by Rs 2.25, effective midnight today. Following the cut, petrol will cost Rs 56.49 per litre (ex-Delhi) while petrol will cost Rs 46.01

This is the 10th straight cut the companies have executed since oil prices started turning lower in mid 2014.

Prices of both petrol and diesel have been fully linked to market prices in 2010 and 2014, respectively.

Below is a chart that shows the price movement of both fuels (IOC prices, Delhi. Source: PPAC)