Indian Oil Corporation (IOC), India's largest oil marketing company, has decided to decrease in retail selling price of petrol by Rs 0.80/litre at Delhi (including State levies) with corresponding price revision in other states. With this change, the price of petrol in Delhi will become Rs 59.20/litre.

Decrease in retail selling price of diesel (retail) by Rs 1.30 /litre at Delhi (including State levies) with corresponding price revision in other states. With this change, the price of diesel in Delhi will become Rs 47.20/litre.

Prices of petrol and diesel were last revised downwards w.e.f. Apr.  2, 2015 by Rs 0.49/litre and Rs 1.21/litre respectively (including state levies at Delhi). Since last price change, the trend of international prices of petrol & diesel and INR-USD exchange rate warrant a further downward revision in prices, the impact of which is being passed on to the consumers with this price decrease.

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 declined Rs 4.5, or 1.19%, to settle at Rs 372.75. The total volume of shares traded was 57,131 at the BSE (Wednesday).