Petrol Price Reduced By Re 1 Per Litre

Petrol price in the country has been reduced by Re1 per litre. The reduction will come into effect from midnight after the completion of polls.
“State-owned oil firms, which cut petrol price by 54 paise on October 1, reduced rates by another Re1 per litre excluding local sales tax or VAT with effect from midnight tonight,” Indian Oil Corp (IOC) said.

Petrol price in Delhi has been reduced by Rs 1.21 per litre to Rs 66.65 per litre. In Mumbai, it has been reduced from Rs 75.73 to Rs 74.46 per litre.

"Since last price change, international petrol prices have continued to show a downward trend. However, the INR-USD exchange rate has depreciated. Despite INR-USD depreciation, the fall in international oil prices warrant a decrease in selling price of petrol in the domestic market."

"Thus a downward revision in selling price of petrol by Re 1.00 /litre (excluding state levies) is being effected from midnight of 14th/15th Oct'14. With this price revision, Retail Selling Price at Delhi shall decrease by Re 1.21/litre (including VAT), with corresponding decrease in other states," IOC said.