Indian Oil Corporation (IOC), India's largest oil marketing company, has decided to effect the following price changes w.e.f midnight of Feb. 3rd / 4th, 2015.
 
Decrease in Retail Selling Price of Petrol by Rs. 2.42 /litre at Delhi (including State levies) with corresponding decrease in other States.

Decrease in Retail Selling Price of Diesel (Retail) by Rs. 2.25 /litre at Delhi (including State levies) with corresponding decrease in other States.
 
Prices of Petrol and Diesel were last revised downwards w.e.f. Jan. 17, 2015 by Rs 2.42/ litre and Rs 2.25 / litre respectively (including State levies at Delhi). This decrease in prices was effected on the back of declining international oil prices.
 
Since the above price revision, international prices of both Petrol and Diesel have continued to be on a downtrend and the INR-USD exchange rate has appreciated. The combined impact of both these factors warrant a 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 2.95, or 0.89%, to trade at Rs 334.20 at the BSE (09.58 a.m., Wednesday).