On the beginning of current fiscal, state-owned oil companies seemed to be in mood to lighten the burden on common man, reducing the retail price of petrol by 85 paise/litre excluding VAT.
With including VAT, petrol is now cheaper by over Rs 2/litre in city and effective midnight of Monday.
Beside this, the relief has also raised on the price of non-subsidised cooking gas (LPG) with cut off Rs. 3 per cylinder.
The decision came in line with fall in international rates of crude oil from 122.74 US dollars per barrel to 119.23 US dollars a barrel in the past two weeks, Indian Oil Corporations told reporters.
However Rupee appreciation by 12 paise to Rs 54.28 against the US dollar is another reason for price reduction.
Meanwhile, in Mumbai petrol will cost Rs 74.14 per litre, Kolkata Rs 74.72 and in Chennai it will Rs 70.34 a litre.
Apart of LPG, now the customers will pay Rs 901.50 for 14.2-kg non-subsidised LPG cylinder in the national capital. The cap of subsidised domestic LPG cylinders goes to nine in a year from Sunday and the customers will have to pay market prices.
