Petrol prices likely to be slashed by Rs 2/litre today
Quotes

Petrol prices likely to be slashed by Rs 2/litre today

Last Updated: Friday, June 15, 2012, 10:52
 
 Comment 1
 
Petrol prices likely to be slashed by Rs 2/litre today
Zeebiz Bureau

New Delhi: State-run oil marketing companies may cut petrol prices by up to Rs 2 per litre at their scheduled review meeting on Friday with the rates of crude declining in the international market, media reports said.

The oil companies had on May 24 hiked petrol prices by Rs.7.54 a litre, the steepest hike in many months when average price of the Indian basket of crude oil stood at USD 116 a barrel. Crude prices have since fallen to USD 96 per barrel on Wednesday the lowest level in the last one year.

Later, the rate rate was reduced by Rs 2.02 a litre.

State-run oil marketing firms Indian Oil Corporation ( IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) will meet today to decide on the quantum of reduction in petrol prices.

In the first 15 days of June, the Indian crude basket was trading at around USD 96 a barrel, down from USD 101.63 a barrel as compared to the last fortnight of May.

With Agency Inputs



First Published: Friday, June 15, 2012, 09:01


Comments


comments powered by Disqus
New York Auto Show
New York Auto Show
Top Businesswomen in India
Top Businesswomen in India
World`s top ten billionaires 2014
World`s top ten billionaires 2014
2014 Geneva International Motor Show
2014 Geneva International Motor Show
Geneva Auto Show 2014
Geneva Auto Show 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved