Press Esc to close
Friday 09 December 2016
News updated at 9:21 AM IST
Weather
Max: 29°C
Min : 15°C
In Bengaluru
Partially cloudy

Petrol cheaper by Rs 2.43 in Bangalore

Last updated: 15 November, 2011
New Delhi, Nov 15, DHNS:

Weakening rupee may push up prices again

Bangaloreans will pay Rs 2.43 less for unleaded petrol per litre from Tuesday midnight after state-owned oil companies revised downward the retail prices.

Earlier in the day, the oil companies slashed the basic price of petrol by Rs 1.85 a litre.
This is the first petrol price cut in nearly three years. The last time the prices were revised downward was in January 2009.

The reduction of Rs 1.85 per litre is the basic price cut by the fuel companies, on which the states levy their local sales tax.

Consequently, petrol will cost Rs 66.42 per litre in Delhi from midnight as against Rs 68.64 per litre now.

In Mumbai, petrol will sell at Rs 71.47 per litre, in Kolkata it will cost Rs 70.84 per litre, while in Chennai it will sell at Rs 70.38 per litre

The reduction in petrol prices was effected following a reduction in global crude oil prices and rupee dollar parity since end of October, India’s largest fuel retailer Indian Oil Corporation said in a press release posted on its website.

Price of petrol in global market dropped to $115 a barrel from an average of $125 last month.

The rupee also averaged 49.50 against the dollar during the same period.
IOC said that with Tuesday’s revision, there will be no under-recovery on account of petrol prices during the fortnight beginning November 16.

Experts, however, warned that if the rupee moves further away after suffering a significant depreciation in the past couple of days, its impact may get reflected in the next pricing cycle after a fortnight.

Rupee slid to a 33-month low on Tuesday and stood at 50.45 per dollar, making further the import of oil costlier for the Indian firms.

 

Go to Top

Photo Gallery
Umpire Paul Reiffel is helped by support staff after he was hit by ball during fourth test...

Umpire Paul Reiffel is helped by support staff after he was hit by ball during fourth test...

TMC members during a protest to observe a 'Black Day' against demonetization...

TMC members during a protest to observe a 'Black Day' against demonetization...

Indian captain Virat Kohli celebrates with teammates the wicket of England batsman Jonny Bairstow...

Indian captain Virat Kohli celebrates with teammates the wicket of England batsman Jonny Bairstow...

Co owner of Bengaluru Blasters, Sachin Tendulkar, Allu Arjun and others...

Co owner of Bengaluru Blasters, Sachin Tendulkar, Allu Arjun and others...

An illuminated Braham Sarovar during the ongoing 'International Gita Mahotsav-2016'...

An illuminated Braham Sarovar during the ongoing 'International Gita Mahotsav-2016'...

Shi'ite Muslims beat their chests as they attend a religious precession to commemorate...

Shi'ite Muslims beat their chests as they attend a religious precession to commemorate...

Security jawans stands guard during Encounter between Army and Militants...

Security jawans stands guard during Encounter between Army and Militants...

Fire personnel dousing fire at Sri Krishna Jute Mill,in Howrah district of West Bengal...

Fire personnel dousing fire at Sri Krishna Jute Mill,in Howrah district of West Bengal...

A free medical service were offered to public by AIADMK in memory of the J Jayalalithaa...

A free medical service were offered to public by AIADMK in memory of the J Jayalalithaa...

Swimmers from Seat Hawks exult in joy after reaching Tanneerbhavi beach in Mangaluru...

Swimmers from Seat Hawks exult in joy after reaching Tanneerbhavi beach in Mangaluru...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523