Government-controlled oil marketing companies today announced a second cut in petrol price for this month though they were silent on the monthly increase in diesel price as part of phased decontrol of diesel price.
Indian Oil Corporation Ltd said it decided to decrease the retail selling prices of petrol by Rs 0.70 a litre (excluding state levies) from midnight of April 15-16.
On April 1, price of petrol were reduced by Rs. 0.75 a litre excluding state levies resulting in Retail Selling Price at Delhi going down by Rs 0.90/litre. "This reduction was effected on the back of a declining trend in international prices of petrol accompanied by a strengthening of the INR-USD exchange rate. Since last price change, while International MS prices have remained almost static, the strengthening of INR-USD exchange rate has continued.
Business Standard
Indian Oil Corporation Ltd said it decided to decrease the retail selling prices of petrol by Rs 0.70 a litre (excluding state levies) from midnight of April 15-16.
On April 1, price of petrol were reduced by Rs. 0.75 a litre excluding state levies resulting in Retail Selling Price at Delhi going down by Rs 0.90/litre. "This reduction was effected on the back of a declining trend in international prices of petrol accompanied by a strengthening of the INR-USD exchange rate. Since last price change, while International MS prices have remained almost static, the strengthening of INR-USD exchange rate has continued.
Business Standard