Prices of petrol may be cut again

Prices of petrol may be cut again

“We might do the same again, but this time close to one rupee per litre as there is a scope for further reduction,” an official of an OMC told Deccan Herald on Monday.
The state-run OMCs had cut petrol prices by Rs 1.82 per litre mid-November following a reduction in global oil prices and rupee-dollar parity since end of October. That was the first reduction in petrol prices in the past three years.

The Singapore gasoline prices have now averaged $108.76 a barrel compared to $114.13 in the previous fortnight, according to calculations.

The last time when petrol prices were slashed in mid November, the pieces of gasoline in global market had dropped to $115 a barrel. The rupee had also averaged 49.50 a dollar.

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