State-owned fuel retailers - Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) - have revised the rates for the third time in October. On October 1 and October 15 oil companies revised the fuel prices but petrol price remained unchanged.
Petrol price was last revised on September 1 when it was cut by Rs 2 per litre to Rs 61.20 in Delhi. Diesel on that day was reduced by 50 paise.
Oil companies revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.