Diesel prices are likely to be cut by Rs 2.50per litre and a little less than Re 1 a litre cut on petrol is in offing as international oilrates fell to a 27-month low, PTI reported.Prices may be cut after Maharashtra and Haryana assembly elections are completed on October 15, sources privy to the development said.Benchmark Brent crude today slid by as much as $1.35 to $90.76 a barrel, its lowest level since June 2012.Prices have declined 18 per cent this year.The drop in rates will result in profit on sale of diesel expand from Rs 1.90 a litre calculated based on average rate prevailing in the second half of September.Despite wiping out of under-recoveries or the difference between retail selling price and its imported cost, on sale of diesel on September 16 and the subsequent resultant over- recovery to Rs 1.90, the government has not cut rates due to election code. :tup
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Diesel, Petrol Prices Likely to be Cut After State Elections - NDTVProfit.com
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Diesel, Petrol Prices Likely to be Cut After State Elections - NDTVProfit.com
