Business

Indian Oil blames ‘clerical error’, says fuel prices cut by 1 paise, not 60p

Within hours of announcing that fuel prices have been cut by almost 60 paise, state-owned oil companies revised the cut to just 1 paisa a litre each.

New Delhi: Fuel prices in the country dropped by a paisa on Wednesday. Petrol in Delhi now costs ₹78.42 per litre and diesel ₹69.30.

State-owned oil companies on Wednesday morning announced reduction in petrol price by 60 paise to ₹77.83 a litre and diesel by 56 paise to ₹68.75 in Delhi. Within hours of the announcement, they revised the cut to just 1 paisa a litre each. They attributed the wrong announcement to a ‘clerical error’.

“The reduction was supposed to be 1 paisa but due to a clerical error the price prevalent on May 25 was communicated as today’s (Wednesday) price,” a senior official of Indian Oil Corp (IOC), the nation’s largest fuel retailer, explained.

The marginal reduction comes after 16 consecutive price increases since May 14 when fuel retailers ended a 19-day pre-Karnataka poll hiatus to pass on a spike in global oil rates.

In all, petrol price was increased ₹3.8 per litre and diesel by ₹3.38 in that fortnight.

Prices vary from state to state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals.

FUEL PRICES AFTER REVISION

City
Petrol cost
Diesel Cost
Delhi
78.42
69.30
Kolkata
81.05
71.85
Mumbai
86.23
73.78
Chennai
81.42
73.17

 

*Prices may vary from Outlet to Outlet within a city.

(With inputs from PTI)

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