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Petrol price cut by Re.1.0 per litre
Monday April 15, 2013 07:48:58 PM,
IANS
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New Delhi:
Petroleum major Indian Oil Corp (IOC) Monday announced reduction
in petrol price by Re.1 per litre (excluding VAT) effective
midnight Monday-Tuesday.
"Since the last price change, the international prices of petrol
have gone down from $119.23 per barrel to $116.61 per barrel," IOC
said in a statement here.
It had thus decided to pass on the benefit to customers, the
company said.
The price of petrol was decreased by 85 paise per litre (excluding
VAT) on April 3.
Taking into account local taxes, the new price of petrol per litre
will be Rs.66.09 in Delhi, Rs.72.88 in Mumbai, Rs.69.08 in
Chennai, Rs.73.48 in Kolkata and Rs.72.63 in Bangalore.
According to IOC, it has incurred losses of nearly Rs.500 crore on
sale of petrol in the last financial year.
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