IOC to cut diesel, petrol prices from Friday

Reuters

31 December 2015 at 11:09 am

REUTERS - 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) (Compiled by Mayank Bhardwaj in NEW DELHI; editing by Adrian Croft)

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