Oil marketing companies have cut prices of petrol and diesel by Rs 2 per litre though actual prices are down to the individual state’s VAT rates.

However, for Delhi, the price for petrol has risen as the government has hiked the VAT rate on petrol and diesel for the national capital. Diesel though still sees a fall of about 50 paise.

Petrol and diesel prices are generally revised by the state-owned OMCs on the 1st and 16th of every month, depending on the movement of fuel prices in the international market, as well as the rupee-dollar exchange rate of the previous fortnight. Prices of petrol and diesel were last revised on July 1.

Source: Autocar India