1. You Are At:
  2. Home
  3. Business News
  4. Petrol price cut by 70 paise a litre

Petrol price cut by 70 paise a litre

New Delhi: State-run Indian Oil Corp (IOC) Tuesday announced a cut in petrol prices by 70 paise a litre, effective from midnight.The reduction is exclusive of local taxes, and the fuel's retail price in Delhi

IANS [ Updated: April 16, 2014 7:14 IST ]
petrol price cut by 70 paise a litre
petrol price cut by 70 paise a litre

New Delhi: State-run Indian Oil Corp (IOC) Tuesday announced a cut in petrol prices by 70 paise a litre, effective from midnight.


The reduction is exclusive of local taxes, and the fuel's retail price in Delhi will come down by 85 paise a litre, IOC said.

"The continued appreciation of the rupee (to the US dollar) has resulted in reduction in petrol prices warranting the proposed decrease," a statement here said.

Petrol price was last reduced on the first of this month by 75 paise a litre, excluding state levies, and the fuel currently sells in Delhi at Rs.72.26 per litre.

Oil marketing companies (OMCs) are currently suffering under-recovery, or losses, of Rs.5.49 per litre on diesel, Rs.34.43 a litre on kerosene and Rs.505.50 per LPG cylinder, on account of selling these fuels below cost, IOC said.

Promoted Content

Write a comment

atal-bihari-vajpayee
monsoon-climate-change
?>

Live Scorecard