Petrol prices to be slashed by Rs 2.46 per litre effective from midnight

Petrol prices slashed by Rs. 2.46 per litre

A Big relief for all the Petrol car and motorcycle users across India, the petrol prices will be cheaper by Rs 2.46 per litre effective from midnight today (30th June 2012). This is a second reduction this-month since that hike, on 3rd June the petrol prices were slashed by Rs 2. This is the again a partial rollback after the steepest ever increase of Rs 7.50 per litre affected more than a month ago.

As Global oil prices has fallen by 8 percent since the first week of June when the current revision was done. In a relief to inflation-battered common man, petrol price was on Thursday cut by Rs.2.46 per litre. There exists a scope for another reduction next-month in cutting rates by a further Re.1 per litre more. State owned Oil Companies announced Today.

However, the reduction in petrol price varies from Rs. 2.46 per litre to Rs. 3.22 per litre, depending upon local taxes in different states across India, the petrol prices of important metro cities in India are as follows –

  • Petrol Price in Delhi will be Rs 67.78 down from Rs 70.24 per litre
  • Petrol Price in Mumbai will be Rs 73.35 down from Rs 76.45 per litre
  • Petrol Price in Kolkata will be Rs 72.74 down from Rs 75.81 per litre
  • Petrol Price in Chennai will be Rs 72.27 down from Rs 74.4 per litre
  • Petrol Price in Bengaluru will be Rs 76.39 down from Rs 79.61 per litre

In a statement released by IOC – Indian Oil Corporation, stated –

“In the current fiscal, the industry has accumulated losses of Rs2,323 crore on Motor Spirit sales due to OMCs’ inability to revise prices in line with high international oil prices and eroded USD-INR exchange rate during that period.”


Also see – Petrol prices slashed by Rs. 2/- per litre from today

A Real Life Ghost is back – Petrol price hiked by Rs 7.50/ltr, effective from midnight