Advertisement

HindustanTimes Sat,19 Apr 2014

Oil companies cut petrol prices by Rs. 2 per litre

HT Correspondent, Hindustan Times  New Delhi, March 15, 2013
First Published: 19:04 IST(15/3/2013) | Last Updated: 09:57 IST(16/3/2013)

Petrol in Delhi and NCR will cost Rs. 2.40 less from Friday. In the steepest reduction in prices in the last nine months, the state-owned oil companies on Friday announced a cut in petrol prices by Rs. 2 per litre (excluding state taxes), resulting into an effective reduction of up to Rs. 2.50 per litre.

Advertisement

While the new petrol rates will be effective from Friday, there will be no change in those of diesel.

The reduction in rates comes in the wake of falling crude oil prices in the international market. The fall in global oil prices has also helped lower losses on diesel sales. http://www.hindustantimes.com/Images/Popup/2013/3/16_03_13-metro2.jpg

In Delhi, petrol will now cost Rs. 68.34 per litre against Rs. 70.74 currently.

It was expected that oil firms will affect the monthly hike of 40-50 paise per litre in diesel rates but they reportedly deferred the decision to save the government from trouble in Parliament.

When oil firms had last hiked petrol price on March 2, the Opposition parties had disrupted one full day’s proceedings.

The cut in petrol price follows two rounds of hikes since February. Petrol price was hiked by Rs. 1.50 per litre on February 16 and then by Rs. 1.40 per litre on March 2. Both the hikes were excluding local VAT.

Advertisement
more from Business

700 trainees opt for exit plan at Nokia’s Chennai plant; union protests

The employees plan to go in for a Japanese-style strike on Monday. Some 5,200 employees will forego their free lunch and snacks given by the company, and also work during the break to register their protest against VRS scheme.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved