- Reacting favorably to recent fluctuation in global crude oil prices, state-run Indian Oil Corp (IOC) slashed petrol prices on Sunday by Rs 1.42 a litre and of diesel by Rs 2.01.
- This is the third reduction in rates this month. Earlier on 16 July, IOC had reduced petrol by Rs 2.25 a litre and diesel by Rs 42 paise.
- Petrol per litre from Monday will cost Rs 61.09 in Delhi, Rs 64.97 in Kolkata, Rs 65.70 in Mumbai and Rs 60.65 in Chennai, while diesel will now cost Rs 52.27 in Delhi, Rs 54.57 in Kolkata, Rs 57.47 in Mumbai and Rs 53.73 in Chennai.
- Parliament was informed earlier this week that nine excise duty hikes over a span of few months have helped the government almost triple its excise earnings from petrol and diesel to about Rs 70,000 crore during 2015-16.
(With IANS inputs)