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Petrol price slashed by 91p/litre

India's largest oil marketing company, Indian Oil Corporation (IOC), on Sunday slashed petrol prices by 91 paise per litre at Delhi (including state levies) and diesel (retail) by 84 paise per litre with corresponding decrease in other states.

The prices of petrol and diesel were last reduced on November 1, 2014 by Rs 2.41/ litre and Rs 2.25/ litre respectively (including state levies at Delhi) due to the declining international oil prices.

The IOC said in a statement that it will closely monitor the movement of prices in international oil market and INR-USD exchange rate and will adjust the prices accordingly.

The company's shares gained Rs 1.3 or 0.36%, today to trade at Rs 366.