Oil Companies to cut petrol prices by a rupee from Tuesday

Mangalore Today/NDTV

New Delhi, April 1: Indian Oil Corp , the country’s biggest refiner, will cut petrol prices by a rupee from Tuesday as global prices of the fuel have declined and the rupee has marginally strengthened against the dollar, it said in a statement.

India’s three state-run fuel retailers - IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp - tend to move their prices together.

Petrol price cut-April1

The government deregulated gasoline prices in June 2010.

In January it allowed fuel retailers to raise the price of subsidised diesel by 50 paise a litre every month and asked bulk buyers to pay market rates.

Following are the revised prices of petrol in four metros after oil firms cut rates, with effect from midnight tonight.
Current PriceRevised Price Decrease

Delhi68.3167.291.02

Kolkata75.7974.721.07

Mumbai75.2174.141.07

Chennai71.4270.341.08

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