The fall in petrol prices was announced by three oil companies, which are Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) respectively. Read more
According to source, the cut in petrol rates will come as a big respite for the consumer just because of downing phase in global prices of crude oil, the companies base the domestic prices every fortnight. Read more
Petrol price may be cut by up to Rs 2 from next week
A freshly report, the Oil corporations are in plans to cut petrol price to give little relaxation to the citizens; the reduction would be by Rs 2 per litre.
On Friday after tabled a meeting of oil marketing companies, they are expected to cut rates because of declining rates of crude prices in the international market, a source report said. Read more
Petrol price likely to fall further: Pranab Mukherjee
The finance minister of India, Pranab Mukherjee has indicated the petrol price may fall further in the coming period of time as the crude oil prices fall in the international market.
Earlier, the UPA government and Oil companies has announced a hike of Rs 7.54 per liter in petrol price in the country on 24 May.
This was the highest growth in the petrol in recent past, however, the central government cut petrol prices by Rs 2.02 per liter last week. Read more