Indian Oil Corporation (IOC), India's largest oil marketing company, has decided to decrease in retail selling price of petrol by Rs 0.49/litre at Delhi (including State levies) with corresponding decrease in other States. With this change, the price of Petrol in Delhi will become Rs 60/litre.
 
Decrease in retail selling price of diesel (retail) by Rs 1.21 /litre at Delhi (including State levies) with corresponding decrease in other States. With this change, the price of Diesel in Delhi will become Rs 48.50/litre.

Prices of petrol and diesel were last revised on Mar. 1, 2015. Since then, the international prices of both Petrol and diesel have declined. The INR-USD exchange rate has however depreciated. The impact of both these factors warrants decrease in retail selling prices of both petrol and diesel.
 
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

Shares of the company gained Rs 2.05, or 0.56%, to trade at Rs 370.35. The total volume of shares traded was 56,307 at the BSE (11.49 a.m., Wednesday).