PETROL PRICES REDUCED FORM TUESDAY MIDNIGHT
IN a month second time reduction in petrol prices as the price is
reduced by 70 paise a litre . this is the result positive impression
of iIndianrupee against the US dollar, which made oil imports cheaper.
The reduction will be effective from Tuesday midnight and may vary
from city to city depending on VAT and other taxes.
For Delhi the mass has to pay 71.41 per litre against 72.26 . for Mumbai
it is 80 rs against 80.89. according to Indian Oil Corporation’s , ,
“The continued appreciation of the rupee has resulted in reduction in
petrol prices This reduction was effected on the back of a declining
trend in international prices of MS (motor spirit) accompanied by a
strengthening of the rupee-USD exchange rate “. There will be no
change in diesel prices as oil firms revise rates of the nation’s most
consumed fuel on a monthly basis.
In june 2010 the government relieves petrol prices from its control
and since then state-owned oil firms and have been revising the rates
on the 1st and 16th of every month based on the fortnightly average of
international oil prices and the rupee-US dollar exchange rate. For
diesel,in Jan 2013, the government decided to allow oil firms to
raise rates by up to 50 paise a litre, excluding local levies, every
month until losses on the fuel are wiped out.