May 30, 2018 / 5:19 AM / in a year

UPDATE 1-India's top fuel retailer trims petrol, diesel prices

(Updates with revised prices)

NEW DELHI, May 30 (Reuters) -

* Indian Oil Corp, the country’s top refiner and fuel retailer, has marginally cut pump prices of petrol and diesel, its website showed on Wednesday

* An Indian Oil spokesperson said the company website carried wrong prices due to a technical glitch

* “There is a downward revision in prices, but it is minimal,” she said

* According to the latest revision, a litre of petrol in Delhi costs 78.42 rupees on Wednesday, while diesel will be sold at 69.30 rupees per litre

* Domestic petrol and diesel prices touched a record high on Tuesday

* Petrol and diesel prices in India are linked to Singapore gasoline prices GL95-SIN and Arab Gulf diesel prices GO-AG, which mostly track movements in crude oil prices

* Three state-run fuel retailers - IOC, BPCL and Hindustan Petroleum Corp - control most of India’s fuel retail market and tend to move their fuel prices in tandem (Reporting by Nidhi Verma, Editing by Sherry Jacob-Phillips)

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