Petrol prices likely to be slashed by up to Rs 2.50 per litre

Last Updated: Tuesday, April 23, 2013 - 13:29

Zee Media Bureau

New Delhi: Oil Marketing Companies (OMCs ) may slash the price of petrol by up to Rs 2.50 per litre in line with the decline in international crude oil prices.

The new price will reportedly come into effect by the end of April.

Brent crude oil is now trading at USD 99 a barrel in international market.

Petrol price was cut by Re 1 per litre on 15 April, the third reduction in rates in one month.

The price cut, which was made possible because of fall in international oil prices, excludes local sales tax or VAT.

After including VAT, the reduction in price of petrol in Delhi costs Rs 66.09 per litre.

Earlier petrol price was slashed by 85 paise a litre reduction in rates on April 2 and Rs 2 a litre decrease effected on March 16. The March 16 cut after including VAT translated into a Rs 2.40 a litre reduction at pumps. It was the steepest cut in nine months.

With Agency Inputs

First Published: Tuesday, April 23, 2013 - 12:54

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