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India's IOC to cut diesel prices by 3.7pc from Monday

Published July 31, 2016 Updated July 31, 2016 04:27pm
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By Shoaib Ur Rehman
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imageMUMBAI: Indian Oil Corp (IOC) will cut the price of diesel by 3.7 percent from Monday and that of gasoline by 2.3 percent, reflecting changes in global fuel prices, the company said in a statement.

India's three state-run oil companies, IOC, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, tend to adjust retail prices of fuel in concert.

A litre of diesel will sell for 52.27 rupees in the Indian capital, New Delhi, while gasoline will cost 61.09 rupees a litre from Monday.

Copyright Reuters, 2016

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