New Delhi: State-run oil companies today cut prices of auto liquefied petroleum gas by Rs 3 a litre to make the fuel competitive with petrol and diesel, the rates of which were slashed last week.
Auto LPG will cost Rs 27.37 a litre from midnight tonight in Delhi against Rs 30.37 per litre currently, an Indian Oil Corporation (IOC) official said.
The oil companies made the reduction to keep the fuel competitive vis-a-vis petrol and diesel whose prices were last week cut by Rs 5 and Rs 2 a litre respectively.
"If auto LPG is not cheaper than petrol, no one will use it," the official said.
After last week's price cuts, petrol in Delhi costs Rs 45.62 a litre while diesel is priced at Rs 32.86 per litre.
The oil companies were able to cut auto LPG prices because international prices of liquefied petroleum gas (LPG) have fallen from USD 886 per tonne in July to around USD 330 per tonne earlier this month.
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