Petrol, diesel prices slashed

New Delhi May 16 (IANS) State-run Indian Oil Corp (IOC) has reduced price of petrol by Rs 2.16 per litre and that of diesel by Rs 2.10 a litre excluding state levies.

According to IOC the current level of international prices of petrol diesel and the Indian rupee-US dollar exchange rate warranted a decrease in selling price.

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 the IOC said in a statement late on Monday.

--IANS
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