Petrol price was cut down by Rs 1.46 a litre and diesel price by Rs 1.53 per litre on Tuesday. The new prices will be effective from Tuesday midnight. On November 5, petrol price was raised by 89 paise per litre, the sixth increase in rates since September. Diesel price was raised by 86 paise a litre, the third increase in a month. This move is in response to global prices and currency fluctuations. “The current level of international product prices of petrol and diesel and INR-USD 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,” IOC said in a statement.
“The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” it said. The new prices of non-branded petrol in metros like New Delhi would come to Rs 65.93 per litre, Kolkata Rs 68.67, Mumbai Rs 72.29 and Chennai Rs 65.41. The revised prices of non-branded diesel in New Delhi would come to Rs 54.71 per litre, Kolkata Rs 56.95, Mumbai Rs 60.32 and Chennai Rs 56.24.
Union Budget to be presented on February 1
The Union Budget 2017-18 will be presented on February 1. “We are on track to meet the date. The inter-ministerial discussions for finalising the Revised Budget Estimates have been completed,” said a government source, adding that it will not be impacted by the government decision to scrap Rs 500 and Rs 1,000 notes and replace them with a new Rs 500 and Rs 2,000 notes. “These are two independent exercises being handled by separate teams of officers,” said the source. The government has decided to advance the Budget process by a month to ensure that it is completed before the start of the new financial year on April 1. Danny Etling Authentic JerseyShare This