Once again, there is a reason for common man to smile as petrol prices have gone down once again. The price of petrol has been slashed to Rs 70.91 per liter from Rs 71.76 per liter for regular petrol, while for power petrol; it is Rs 73.63 from Rs 74.51.

Moreover, talking to media, an official from the Pune Petrol Dealers Association, Ali Daruwalla said, “The international oil price has come down to $106 per barrel from $115.”

Oil firms had already expressed earlier a sudden fall in prices if international prices fell along with the rupee appreciating against the dollar.

In the meantime, Petrol prices were reduced on Nov 15 by Rs.1.85 per litre. The fall was the first after January 2009.

The three state-run oil firms including IOC, Hindustan Petroleum and Bharat Petroleum review motor spirit prices on fortnightly basis and based on the review, fix prices for the next fortnight.

The current and new petrol prices in the four metros are as under:

 

Old                  New

New Delhi        Rs.66.42          Rs.65.64

Kolkata             Rs.70.84          Rs.70.02

Mumbai            Rs.71.47          Rs.70.65

Chennai            Rs.70.38          Rs.69.55