Petrol rates cut by 85 paise a litre from Tuesday

New Delhi, April 1 (IANS) State-run Indian Oil Corp (IOC) said it will cut the price of petrol by 85 paise a litre effective midnight Monday.

Allowing for local taxes, or VAT, petrol will be effectively cheaper by Rs.1.02 a litre in Delhi. It will cost Rs.67.29 a litre from Tuesday as compared with Rs.68.31 per litre currently.

This will be the second petrol price cut since March 15 when state oil firms reduced fuel price by Rs.2.40 per litre.

An IOC official told IANS Monday that the rate was cut because benchmark international oil prices had dropped.

Other public sector retailers review their fuel prices every two weeks based on various factors, including global oil prices and currency fluctuations.

The opinions, beliefs and viewpoints expressed by authors, news service providers on this page do not necessarily reflect the opinions, beliefs and viewpoints of Hill Post. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual. Hill Post makes no representations as to the accuracy or completeness of any information on this site page.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.