03/02/2015 6:10 PM IST | Updated 15/07/2016 8:24 AM IST

Petrol, Diesel Prices Cut

Kashmiris queue to fill gasoline at a station in Srinagar, the summer capital of the Indian State of Jammu and Kashmir, in the Kashmir Valley, on September 16, 2014. Army and other emergency officials have battled to rescue tens of thousands of people stranded by the floods, triggered by heavy monsoon rains, that hit the northern Himalayan region and neighbouring Pakistan. AFP PHOTO/DIBYANGSHU SARKAR (Photo credit should read DIBYANGSHU SARKAR/AFP/Getty Images)

New Delhi: With international crude oil prices continuing to hover below $50 per barrel, the three state-run oil marketing companies (OMCs) Tuesday decided to reduce petrol and diesel prices.

According to Indian Oil Corporation (IOC), the petrol price in Delhi -- after taking into account the state levies -- will be reduced by Rs.2.42 per litre, while diesel cost will come down by Rs.2.25 per litre from midnight Tuesday.