Press Esc to close
Friday 30 January 2015
News updated at 8:03 AM IST
Weather
Max: 28°C
Min : 17°C
In Bengaluru
Sunny day

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
A groom leads his horse in the equine pool after working out on the track, during early morning...

A groom leads his horse in the equine pool after working out on the track, during early morning...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

A Police man takes pictures as the Raisina Hill which houses India's most important ministries...

A Police man takes pictures as the Raisina Hill which houses India's most important ministries...

A man walks on a snow covered path after in Srinagar on Thursday. Temperatures drop due...

A man walks on a snow covered path after in Srinagar on Thursday. Temperatures drop due...

A scene after light snow fall at Dal Lake in Srinagar on Thursday...

A scene after light snow fall at Dal Lake in Srinagar on Thursday...

Migratory seagulls are seen above the river Ganga during Magh Mela in Allahabad...

Migratory seagulls are seen above the river Ganga during Magh Mela in Allahabad...

President Pranab Mukherjee leaving for Beating Retreat ceremony from forecourt...

President Pranab Mukherjee leaving for Beating Retreat ceremony from forecourt...

School children perform during presentation of National Bal Shree Honour 2011 & 2012...

School children perform during presentation of National Bal Shree Honour 2011 & 2012...

Bollywood actor Anil Kapoor during inauguration of International Bicycle & Fitness Expo...

Bollywood actor Anil Kapoor during inauguration of International Bicycle & Fitness Expo...

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