Press Esc to close
Tuesday 09 February 2016
News updated at 12:51 PM IST
Weather
Max: 32°C
Min : 18°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
Devotees gather to take holy dip at Har ki Pauri on the occasion of Somvati Amavasaya...

Devotees gather to take holy dip at Har ki Pauri on the occasion of Somvati Amavasaya...

A view after heavy snowfall in Kufri near Shimla...

A view after heavy snowfall in Kufri near Shimla...

Assam Chief Minister Tarun Gogoi dressed as Lord Ram during the Nagaon Bhaona Samaroh...

Assam Chief Minister Tarun Gogoi dressed as Lord Ram during the Nagaon Bhaona Samaroh...

Pakistani Squash team poses with their medals at the 12th South Asian Games...

Pakistani Squash team poses with their medals at the 12th South Asian Games...

Indian tennis players pose for photographs with their medals...

Indian tennis players pose for photographs with their medals...

Weightlifter Pradeep Singh of India after winning gold in 94 kg wrestling...

Weightlifter Pradeep Singh of India after winning gold in 94 kg wrestling...

Gold medal winner Rajani of India poses after 69 kg wrestling event...

Gold medal winner Rajani of India poses after 69 kg wrestling event...

Gold medal winner Vikas Thakur (C)during medal presentation ceremony of 85 kgs weightlifting...

Gold medal winner Vikas Thakur (C)during medal presentation ceremony of 85 kgs weightlifting...

American warship Antietam in Visakhapatnam...

American warship Antietam in Visakhapatnam...

Delhi Dabang(Red) and Bengal Warriors(Blue) players in action during Pro Kabaddi season 3...

Delhi Dabang(Red) and Bengal Warriors(Blue) players in action during Pro Kabaddi season 3...

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