Deep.S
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- 2 Jan 2013
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Petrol prices are likely to be cut by over one rupee a litre early next week as appreciation in value of rupee against US dollar and fall in global oil rates has made imports cheaper.
However, diesel rates will go up by 50 paisa per litrein line with the practice of raising prices by small quantum every month to wipe away subsidy on the fuel.
Rupee has appreciated to Rs 60.50 to a US dollar from Rs 61.44 and simultaneously international gasoline rates have dipped from $118.09 per barrel to $115.73.
The twin factors will lead to a reduction in petrol price on Monday, a source with direct knowledge of the development said.
State-owned oil firms are due to announce revised petrol and diesel prices on March 31.
Read:-
Petrol price cut likely next week, diesel may be hiked - Business Today
However, diesel rates will go up by 50 paisa per litrein line with the practice of raising prices by small quantum every month to wipe away subsidy on the fuel.
Rupee has appreciated to Rs 60.50 to a US dollar from Rs 61.44 and simultaneously international gasoline rates have dipped from $118.09 per barrel to $115.73.
The twin factors will lead to a reduction in petrol price on Monday, a source with direct knowledge of the development said.
State-owned oil firms are due to announce revised petrol and diesel prices on March 31.
Read:-
Petrol price cut likely next week, diesel may be hiked - Business Today
