Indian Oil Corp (IOC) will cut the price of diesel by 2.3 percent from Friday and that of petrol by 1 percent, reflecting changes in global fuel prices.

The retail price of diesel will be cut by 1.06 rupees a litre, the company said in a statement on Thursday.

The retail price of petrol will be reduced by 0.63 rupees a litre.

India’s three state-controlled oil companies, IOC, BharatPetroleum Corp Ltd and Hindustan Petroleum Corp Ltd, tend to adjust retail prices for their fuels in concert.

($1 = 66.1931 Indian rupees)



[Source:- REAUTERS]

By Adam