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Petrol price cut by 80 p, diesel to be cheaper by Rs 1.30

This makes it the second reduction in fuel prices this month. Prices of petrol and diesel were last revised downwards on April 2, by Rs. 0.49/litre and Rs. 1.21/litre, respectively (including state levies).

The News International Team

The price of petrol was cut by 0.80 paise per litre and that of diesel was decreased by Rs 1.30 with effect from Wednesday midnight, the Indian Oil Corporation  said in a release.

With this change, petrol will now cost Rs 59.20/litre in Delhi, while diesel price will come down to Rs 47.20/litre (Delhi).

This makes it the second reduction in fuel prices this month. Prices of petrol and diesel were last revised downwards on April 2, by Rs. 0.49/litre and Rs. 1.21/litre, respectively (including state levies). Since last price change, the trend of international prices of petrol & diesel and the rupee-dollar exchange rate warrant a further downward revision in prices, the impact of which is being passed on to the consumers with this price decrease, said IOC in the release.

“The movement of prices in international oil market and INR-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes,” it added

IOC stock price

On April 15, 2015, Indian Oil Corporation closed at Rs 372.75, down Rs 4.5, or 1.19 percent. The 52-week high of the share was Rs 410.90 and the 52-week low was Rs 258.80.


The company’s trailing 12-month (TTM) EPS was at Rs 34.50 per share as per the quarter ended December 2014. The stock’s price-to-earnings (P/E) ratio was 10.8. The latest book value of the company is Rs 271.80 per share. At current value, the price-to-book value of the company is 1.37.

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