28031
Petrol prices may reduce by Rs 4
Posted on 28 Jun 20124,945 Views Comments
Reduction in per barrel cost may trigger the price cut
Petrol price may be cut by as much as Rs 4 a litre from July 1 as international oil prices fell to their lowest level since December 2010. State-owned oil firms, which had last month hiked petrol price by a massive Rs 7.54 a litre before partially rolling it back by Rs 2.02 per litre, are due to consider revising rates at the end of this month.
"Yes, there is a scope for reduction in petrol prices. But I will not stick my neck out and say there will be a reduction for sure as we have to watch for volatility in the rupee as well," a top official at one of the three PSU oil retailers said. Also Read: Petrol Price Hike: The Story So Far
State-owned fuel retailers, who as per practice revise rates of petrol on 1st and 16th of every month based on average imported cost and forex rates of the previous fortnight, had skipped changing rates on June 16. Petrol at present costs Rs 70.24 a litre at Indian Oil petrol pumps in Delhi. He said the last revision was done keeping in mind an average of $ 115.77 per barrel rate of gasoline, against which domestic petrol prices are benchmarked.
Do you like this story?
- Previous Story
- Next Story
Readers' opinions ( 0 )
Post a Comment
Post a Comment2013 Audi R8 5.2 FSI Coupe : First Drive Pics!
Team ZigWheels Photography by Kunal Khadse
Team ZigWheels gets up-close and personal to the...
Honda sells 4,852 units of its Amaze sedan in April 2013
by Rahul Basu Photography : Kunal Khadse
The Japanese car maker's most recently...
The Ferrari Way : Special Coverage
Ferrari has been voted as the most powerful brand in the world according to Brand Finance and the...
Chevrolet Enjoy : Special Coverage
Designed to take on everything from the Maruti Suzuki Ertiga to the Toyota Innova the Enjoy is...
