New Delhi: The price of gasoline and diesel is cut by 20 Paise per liter each on Sundays – the first reduction in the level of gasoline in more than a month, and fourth in the case of diesel in less than a week.
The price of gasoline in Delhi was cut into rs 101.64 per liter and diesel to Rs 89.07 per liter, in accordance with the price of the price of the oil company managed by the government.
Reduction came because international oil prices fell to the lowest level since May, after the US Federal Reserve signaled it would start making tapered assets in a few months, harming commodities and lifting dollars.
The price cut in Diesel is the fourth since August 18, when the reduction cycle begins.
The four reduction each has 20 Paise per liter.
On the previous three occasions when diesel rates were cut, the price of gasoline remained unchanged.
Sunday gasoline price discount comes after 36 days status quo in the rate.
Changes in the diesel level were influenced after 33 days there were no changes.
Freezing in revisions of tariffs to coincide with parliamentary sessions, where opposition parties tried to corner the government on various problems including the increase in fuel prices.
The last price of gasoline and diesel occurred on July 17.
Previously, gasoline prices increased by 11.44 per liter between May 4 and May 17.
The diesel level rose by Rs 9.14 during this period.
Price increases during this period pushed the price of gasoline above the rs of 100-a-liter rs in more than half a country, while diesel crossed the level at least three countries.
The international oil tariff fell to $ 66 a barrel of $ 75 per barrel touched last month.
India relies on imports to meet nearly 85 percent of its oil needs so that the benchmark for local fuel tariffs to international oil prices.