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IOC to cut diesel prices by 0.89 pct from Friday

Reuters
An employee fills a customer's tank at a petrol pump entirely run by woman in the eastern city of Kolkata May 24, 2008. REUTERS/Jayanta Shaw/Files

NEW DELHI (Reuters) - Indian Oil Corp (IOC) will cut the price of diesel by 0.89 percent from Friday and that of petrol by 1.36 percent, reflecting changes in global fuel prices, the company said in a statement.

India's three state-run oil companies, IOC, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, tend to adjust retail prices of fuels in concert.

A litre of diesel will sell for 54.70 rupees in the Indian capital, New Delhi, while gasoline will cost 64.76 rupees a litre from Friday.

(Reporting by Sankalp Phartiyal. Editing by Jane Merriman)